Kate Middleton Baby Bump

Kate Middleton took the world’s most famous baby bump out for a stroll in London last week. 

The thing is, she covered up with a poncho! Speculation is rife as to whether or not Kate’s keeping a bump under wraps or if she was just keeping warm, but my money’s on just keeping warm. 
The Duchess, who is due in July 2013, wore her signature skinny jeans along with an Orvis cape. (Some people think the cape may be a 2010 Zara product, but I think it more closely resembles the Orvis piece.)
Kate’s been keeping a low profile since being released from the hospital in December, but – with news that she’s been taking daily meetings with her charities – I expect that we’ll begin to see her out and about soon!
What do YOU think of Kate’s maternity style thus far?