Episode

Macro Monday Ep112: Markets aren’t pricing in ‘stagflation’

Podcast: Investec Focus Radio SA
Published: Apr 20, 2026
Duration seconds: 562
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Summary

Ordinarily, you’d expect an oil shock to lead to not only higher inflation, but also weaker equities and a lower growth outlook. However, markets aren’t pricing in a stagflationary outcome. Chris Holdsworth, Chief Investment Strategist, at Investec Wealth & Investment International, examines this apparent anomaly. Investec Focus Radio SA