Quarterly Multi-Asset Commentary

1Q/2018 Multi-Asset Commentary

Posted on Jan 23, 2018

The prospect of accelerating economic growth has central banks thinking about the pace of monetary tightening, but caution is still overriding any urge to move faster. A flattening yield curve reflects more market concern about recession than inflation.

Read this story in full

The prospect of accelerating economic growth has central banks thinking about the pace of monetary tightening, but caution is still overriding any urge to move faster. A flattening yield curve reflects more market concern about recession than inflation.

Read this story in full

4Q/2017 Multi-Asset Commentary

Posted on Oct 27, 2017

We continue to favor international equities over U.S. equities based on relative valuation and a superior risk-return profile. On the fixed income side, we have reduced credit risk by trimming high yield and increasing exposure to Treasuries and agencies. We also maintain a slight overweight to duration.

Read this story in full

We continue to favor international equities over U.S. equities based on relative valuation and a superior risk-return profile. On the fixed income side, we have reduced credit risk by trimming high yield and increasing exposure to Treasuries and agencies. We also maintain a slight overweight to duration.

Read this story in full

3Q/2017 Multi-Asset Commentary

Posted on Jul 14, 2017

We continue to favor non-U.S. equities over U.S. equities based on relative valuations and a superior risk-return profile. In the second quarter, we increased our non-U.S. developed markets allocation to a full overweight, while trimming our high yield position to a slight overweight as credit spreads compressed.

Read this story in full

We continue to favor non-U.S. equities over U.S. equities based on relative valuations and a superior risk-return profile. In the second quarter, we increased our non-U.S. developed markets allocation to a full overweight, while trimming our high yield position to a slight overweight as credit spreads compressed.

Read this story in full

Q2/2017 MULTI-Asset Commentary

Posted on May 25, 2017

We continue to favor non-U.S. equities over U.S. equities based on more attractive valuations and a superior risk-return profile. Early in the first quarter, we pushed up our emerging markets allocation to a full overweight, while cutting U.S. large caps to a full underweight.

Read this story in full

We continue to favor non-U.S. equities over U.S. equities based on more attractive valuations and a superior risk-return profile. Early in the first quarter, we pushed up our emerging markets allocation to a full overweight, while cutting U.S. large caps to a full underweight.

Read this story in full