The firm cut its holdings of developed market equities in part because of concerns that investors are not pricing in the likelihood that earnings growth will continue to slow. Earnings season kicks in to higher gear this week as companies including Delta Air Lines Inc DAL.N and JPMorgan Chase & Co JPM.N report results. Often overlooked in favor of trendy growth names prior to the recent spike in consumer prices, the appeal of dividend payers has increased this year, as an aggressive Federal Reserve and inflation worries combine to batter stocks and bonds.