Asset Allocation Update US equities appear better value than corporate bonds One reason to think that US equities will outperform US corporate bonds over the next couple of years is a larger-than-average wedge between their valuations. 5th November 2019 · 3 mins read
Asset Allocation Update Talk of bubbles remains a lot of hot air We don’t think that asset valuations in general have risen to unsustainably-high levels, even though many are now far above their long-run averages. So we see no need for major corrections in asset... 28th October 2019 · 6 mins read
Asset Allocation Update In search of a return from DM government bonds We think that local-currency and USD-hedged returns from developed market government bonds will generally be poor through the end of 2020, but that USD-unhedged returns will be positive next year. 15th October 2019 · 5 mins read
Asset Allocation Update REITs’ outperformance of equities likely to end soon Although US equity REITs still have comparatively high yields and low valuations, as well as solid fundamentals, we think that their outperformance of US equities will end given the outlook for... 9th October 2019 · 5 mins read
Asset Allocation Update Equities versus bonds in different inflation scenarios Although we forecast a correction in the US stock market later this year, we think it will outperform Treasuries by a large margin in 2020-21. This view rests on an assumption that inflation will... 30th September 2019 · 3 mins read
Asset Allocation Update Joint surge in US equities and Treasuries set to end This is the first Asset Allocation Update on our new Asset Allocation Service. The service considers the asset allocation implications of our comprehensive macroeconomic and financial market research... 23rd September 2019 · 3 mins read