Michael Strobaek

Investing in the New Normal

James Mackintosh, Rishi Kapoor, Faisal Rehman, Michael Strobaek, Maria Vassalou

Leading institutional investors and analysts convened to debate a structural economic shift where central banks maintain suppressed yields, forcing a strategic migration from government bonds into illiquid private markets and technology infrastructure. The panel highlighted a diverging landscape where digitalization drives deflationary pressure and winner-take-all dynamics, prompting SoftBank to target tech giants while Invesco adopts a "picks and shovels" approach to support broader digital transformation. Despite these opportunities, the discussion underscored significant risks including rising inequality, potential regulatory crackdowns, and market volatility as the traditional 60/40 asset allocation model becomes increasingly obsolete in a "low for longer" interest rate environment.