As the Federal Reserve begins raising interest rates and investor focus shifts to value, Carlos Dominguez examines what implications that may have on the bond market, asset allocation and within U.S. equities. Dominguez says inflation is sticky and the only cure is much higher rates or recession, which would both impact economic growth. Within equities, Dominguez’s firm is overweight in independent oil and gas producers, clean energy, healthcare and biotech as well as in Japan and Canada.