European stocks are the most inflation-resistant. values. The most vulnerable are securities of companies from In the opinion of UBS analysts, the most vulnerable are securities of developing countries - its rise will be first of all reflected in According to analysts at UBS. As experts explain, different types of shares have different degrees Sensitivity to inflation - to a certain level of its they demonstrate a stable dynamics, but its excess begins to but exceeding it negatively affects them. The higher the inflation rate rises, the the more negative is the impact. As a benchmark for determining the expected level of inflation bank experts take the yield of 10-year U.S. government bonds as a reference point for determining the expected rate of inflation. Stocks EM segment will be resilient if it does not rise above 2.4%. For stocks of companies included in the S&P 500, it should be no more than 2.5%, for U.S. value stocks and Stoxx 600 member securities 2,9%. The most "strong" are European value stocks: for them this the figure may be as high as 3.4%.