Monday Macro – stock markets broaden out gains, UK equity funds and its all about inflation

Stepping through the arguments for diversification out of the US into Europe. Plus why we all need to fear the inflation genie escaping its bottle

So, we‘re now a bit over 5 weeks into the New Year, and the new Trump Vs 2 era, and equity markets look to be in a decent spot. Year-to-date price return data shows that the best performing of the major benchmarks I track is the Swiss index, the SMI, up 8.76% YTD, closely followed by the IBEX 35 of Spain (up 8.6%) and the Italian MIB index (up 8.4%).

Th…