KKR has released its 2024 midyear global macro outlook by Henry McVey, CIO of KKR’s balance sheet and head of global macro and asset allocation (GMAA).
In “Opportunity Knocks,” McVey and his team explain why they believe the current economic cycle has further to run, despite an environment of heightened volatility and political complexity that they envision in the second half of 2024. They also note that diversification and ability to dynamically lean into dislocation will be critical to successfully capitalizing on the compelling investment opportunities that this environment presents. Several factors underpin the team’s constructive outlook, including an encouraging technical backdrop, a belief that we have entered a structurally higher level of productivity in the United States, a stronger global employment market versus prior cycles, central bank balance sheets that are still plump relative to history, and a surprisingly strong global capex cycle.
McVey and
