The second installment of BNY Mellon Investment Management’s three-part look at investible themes under the Trump administration: Inflation, and rising rates.

Inspire plans to launch the first religiously focused fixed-income fund within the next few weeks.

The high cash levels underscore how difficult it is for fund managers to navigate a decades-long bond rally that may be due for a correction.

Informed Portfolio Management (IPM), which manages $6.7 billion, has returned 9 percent so far this year in its main fund.

BNY Mellon Investment Management sees three themes for investors in Trump’s policy agenda. Here, they consider the macro-trends and the outlook for global reflation.

The Fed has shifted from a data-dependent outlook to forecast-dependent, but that may not last, says Informa Financial Intelligence Chief Macro Strategist David Ader.