Asset Allocation

MacroQuant Model Update: Show Me The Money

MacroQuant recommends a slight underweight to equities and an overweight to bonds and cash. The model is bullish on the US dollar, negative on gold, very negative on copper, and neutral on oil.

2 days ago

BCA Indicators/Model Asset Allocation Financial Markets

Portfolio

NBA To TPA: Three Principles To Run The Team

The Total Portfolio Approach stumbles really on one thing: the team. Everyone says it, but nobody has prescribed the fix. We provide three logistical principles that close the gap. And they work for SAA investors too.

6 days ago

Private Markets Asset Allocation Risks

Essentials

On Whether Bonds Will Hedge Stocks During The Next Recession

An overwhelming share of BCA clients expects US Treasuries to be a good hedge against equities in the next recession. In last week's poll, we asked our clients if they think US Treasuries will be a good hedge against equities in the next recession. 72% expect…

1 week ago

Asset Allocation Equities Fixed Income

Essentials

Global Asset Allocation: Less Optimistic On Stocks

The median BCA strategist has downgraded equities from overweight to neutral on a 12-month horizon in a global portfolio. The downgrade is more a reflection of our low conviction in the previous overweight than a change in our broader outlook. Two factors…

1 week ago

Asset Allocation

Essentials

A New Cycle Low For The US Equity Risk Premium

Relative to bonds, equities have become the most expensive in over two decades. Investors often examine P/E ratios in isolation, but equity valuations should take the prevailing level of bond yields into consideration. In a world with low risk-free rates of…

3 weeks ago

Equities Fixed Income Asset Allocation

Essentials

Picking Up $20 Bills In Front Of The Steamroller

Our Portfolio Construction strategists maintain their overweight to high-yield credit, both within their public asset allocation and versus Private Credit. Higher government bond yields have reset the opportunity set. BCA's capital market assumptions project…

1 month ago

Fixed Income Asset Allocation

CoreMacro

MacroQuant Model Update: A Constellation Of R-Stars

MacroQuant recommends an underweight to equities and bonds, counterbalanced by a significant overweight to cash. The model is very bullish on the US dollar, slightly negative on gold and copper, and positive on oil.

1 month ago

BCA Indicators/Model Asset Allocation Financial Markets

Essentials

Downgrading The US Within A Global Equity Portfolio

The consensus among BCA's strategists remains overweight equities and neutral across bonds and cash on a 12-month horizon. Within equities, the US moves to underweight relative to MSCI ACWI on a 12-month view; on a 3-month horizon, we remain overweight.…

1 month ago

Asset Allocation Equities Fixed Income

Essentials

The Next Test For The Bull Market

Higher bond yields are becoming a more important risk for equity markets, but the implications depend on whether Fed tightening remains mild or develops into a genuine hiking cycle. At our September Views meeting, our US Bond strategists outlined two…

1 month ago

Asset Allocation Equities Fixed Income

Portfolio

Stop Buying Real Assets For Diversification Alone

Special Report

Real Assets remain underweight in investor portfolios, a gap the 2020s bond bear market has exposed. We provide specifics on constructing a portfolio that supplies more than diversification, it delivers return. The specific weightings may not fit every investor, but the three core principles behind them can.

1 month ago

Asset Allocation

Asset Allocation

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