Monthly TAA: AI, Rates, Energy – Are We At The Peak?
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Despite October’s AI selloff, indices remain resilient thanks to historically high dispersion. We remain bullish, but with barbells across the portfolio. Hedge equity with equity: Overweight Technology and Healthcare. Remain overweight high yield. Downgrade linkers and upgrade nominal bonds. Upgrade tail risk protection to overweight as a hedge against a resumption of the war.
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BCA | Portfolio
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