Q2 2023 4 5 Dispatches Contributors Letter From the Editor Letter From the Board 6 How a Spider Changed Financial Markets Phillips Curve 8 Return-Free Risk Ivory Towers 10 All-Weather Stock Funds Do Exist Policy 12 Insights From the 2023 Retirement Plan Landscape Report Sustainability Matters 14 Women Make Inroads on Corporate Boards Global Briefs 17 Americas 19 Greater Europe 22 Australia & New Zealand 25 Asia Spotlight 27 Don't Lose Faith in Fixed Income Inflation holds the key, but over time, bonds should return to their diversifying ways. 32 Is It Time to Pick Up the Pieces? 36 Sustainable Bonds Present New Opportunities 1