Tails of the unexpected: How to cope with 2021's Black Swans

In the event of these Black Swans, pushed to the overlooked "tails" of probability distributions, how would our strategies perform? How do we protect portfolios against adverse market events? Early to rise Life goes back to normal quickly, leading money velocity, employment, aggregate demand and consumer confidence to rise dramatically, which in turn generates inflation and forces central banks to increase interest rates. Consensus view: Global inflation is expected to remain low given large output gaps (e.g. slack in the labour market, idle aircraft) resulting from the coronavirus...