Our global macro experts believe that regime change will continue to drive dispersion, divergence, and disruption, creating investment opportunities and risks that our active managers are tracking on our clients’ behalf. In this collection, we examine the potential impact of excessive deficit spending on the part of G7 countries; we consider the implications of the growing divide among US consumers into thrivers and survivors; we highlight a monetarist explanation as to why inflation is moderating; and we look at the investment implications of starkly different policy agendas from US presidential candidates Biden and Trump.