Michael Gayed, CFA, portfolio manager at Pension Partners & author of the Lead-Lag Report, highlights the current dynamic playing out between the stock market, the Fed, and inflation expectations. In this interview with Jake Merl, Gayed revisits the bullish thesis on emerging markets as the dollar continues to weaken — a thesis he also outlines in an upcoming note on Real Vision's Think Tank product. Gayed then discusses why certain sectors such as financials should outperform in a reflationary environment. Filmed on June 27, 2019.