Macro Matters: Northern Trust’s Bahuguna on AI and Equities

With stronger nominal growth, persistent inflation and an AI-driven investment boom reshaping the macro backdrop, investors may need to rethink traditional stock and bond allocations. Anwiti Bahuguna, co-chief investment officer of Northern Trust Asset Management, joins Bloomberg Intelligence chief US interest rate strategist Ira Jersey to discuss this and more on this Macro Matters edition of the FICC Focus podcast. Bahuguna explains why she sees the post-Covid economy as a new macro regime, how a more divided Federal Reserve could affect the pace of tightening and why strong wealth effects continue to support US consumers. The two also discuss Northern Trust’s overweight to AI-linked emerging markets, Europe and the UK as portfolio diversifiers. Other topics include political risks surrounding data-center construction and why real assets may play a larger role in portfolios facing both inflation and growth shocks.

The Macro Matters podcast is part of BI’s FICC Focus series.