The latest Employment Report is going to come out under unique circumstances. Giorgio Caputo, Senior Fund Manager of J O Hambro Global Income Builder Fund, discusses the tribulations of shutting down and then reopening a modern economy, something that has never been done before. He talks about how that, combined with uncertainty surrounding inflation, makes predicting the outcome of the Employment Report very difficult. He also stresses the importance of protecting one’s portfolio from possible inflation and rising rates. The number he is looking at to inform this is the 5-year Forward Inflation Expectation Rate (T5YIFR).