When all benchmark stock indices are declining, stagflation-themed trades are emerging.Goldman Sachs has an index that measures the performance of stagflation-benefiting stocks while shorting stagflation-detracting stocks. Since early April, this index has risen by nearly 5%, potentially marking the largest monthly gain in a year.Among the top 10 long positions in the Goldman Sachs index are stocks like $Microsoft(MSFT)$ , $MasterCard(MA)$ , and $Caterpillar(CAT)$ , while short positions include $Abercrombie & Fitch(ANF)$ , $SUPER MICRO COMPUTER INC(SMCI)$ , and