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.
While US authorities have moved quickly to contain the fallout of Silicon Valley Bank’s failure, there is likely to be more monetary tightening.
In the euro area, inflation deceleration has been slow and led to a significant increase in interest rate expectations.
Meanwhile, there has been a significant change in market mood, particularly for fixed income and equity markets. This month’s Top Down explores what it all means for investors.
To explore our views, read our latest edition of Top Down.
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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, February 2023: Stronger Growth Data Helps to Dampen Recession Fears
- Top Down, January 2023: A New Year with Familiar Problems
- Top Down, December 2022: A New Year with Familiar Problems
- Top Down, November 2022: About-turn in markets?
- Top Down, October 2022: Bonds look attractive again
- Top Down, September 2022: Reducing Consumer Discretionary to Neutral
- Top Down, July 2022: Changing the equity mix
- 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?