Every month, our Asset Allocation Committee meets to discuss and debate our market outlook. How has our asset allocation changed month-on-month? Here Bernard Swords, Chief Investment Officer, presents our views.
Since the last edition of Top Down, financial markets have staged a recovery. World equities are up 9% in euro terms and the euro area bond market has returned 3.3%.
Over the last month, views about where policy rates will peak in the US and euro area declined – and that has been the main driver of the turn in financial markets. Lower commodity prices, which reduced headline inflation pressures, have also helped.
How has this impacted our asset allocation? And what is our market outlook?
To find out, read our latest edition of Top Down.
Previous editions of Top Down
Explore some of our previous editions of Top Down to see how our asset allocation views have changed this year.
- Top Down, June 2022: Increasing exposure to fixed income again
- Top Down, May 2022: Inflation fears are transitioning to growth fears
- Top Down, April 2022: Repositioning for a maturing cycle
- Top Down, March 2022: What does the crisis in Ukraine mean for asset allocation?
- Top Down, February 2022: What does central banks’ hawkish turn mean for asset allocation?
Please note: the next edition of Top Down will be published in September.