Treasuries are set to keep falling out of favor as an equity hedge amid a return to a persistently elevated inflation regime. Frances Donald, Chief Economist at RBC, breaks down this elevated inflation regime and what it means for wages, the labor market, and US economy as a whole.
Source: [Bloomberg Markets](https://www.bloomberg.com/news/videos/2026-10-20/us-economy-resilience-is-coming-at-a-cost-says-donald-video)