Quarterly report
“Higher for longer” and non-US markets playing catch-up are major themes
Macro dispersion and high valuation in some assets call for selectivity. Policy uncertainty and geopolitical risks could lead to volatility.
Key highlights:
- Policy rate dispersion and slowing growth remain key macro themes
- Higher for longer remain likely ̶ a throwback to 1990s Goldilocks era?
- Global equity rally broadens, and opportunities widen to non-US markets
- Fixed income positioning
- Higher uncertainty and realised volatility could continue
- Income investing gains attention
- Commodities, Infrastructure and Emerging markets show potential
Published quarterly, this report covers:
- Key macroeconomic influences and their implications for financial markets
- Core drivers across asset classes – and what they are indicating
- Cross-asset analysis – expectations, risk premiums, return and risk, correlations and more · Implications for asset allocation and portfolio construction
- Market analysis provided exclusively via our indices, and LSEG and Lipper flows data – enabling apples-to-apples comparisons across asset classes and global markets
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