Asset Allocation

Executive Summary Our recommended model bond portfolio outperformed its custom benchmark index by +24bps in Q2/2022, improving the year-to-date outperformance to a solid +72bps. The Q2 outperformance came entirely from the credit side of the portfolio (+…

Highlights We now recommend that investors maintain a neutral stance towards stocks versus bonds in a global multi-asset portfolio. We also recommend that investors increase their allocation to government bonds within a global fixed income portfolio (to…

Listen to a short summary of this report.       Executive Summary Gold Has Established A Double-Top Formation Gold Has Established A Double-Top Formation…

    Executive Summary At our monthly view meeting on Monday, BCA strategists voted to change the House View to a neutral asset allocation stance on equities, with a slight plurality favoring an outright underweight. The view of the Global…

Executive Summary Structural Tailwinds For The Franc Structural Tailwinds For The Franc…

Executive Summary Structural Tailwinds For The Franc Structural Tailwinds For The Franc…

Listen to a short summary of this report.       Executive Summary Recession Checklist Monthly Portfolio Update: Recession Or No Recession…

Listen to a short summary of this report.         Executive Summary The US Inflation Surprise Index Has Rolled Over Goldilocks: A Skeptical Q&A…

Executive Summary The structural downtrend in Chinese bond yields has a lot further to go, because it is helping to let the air out gently of stratospheric valuations in the real estate sector, and thereby preventing a hard landing for the Chinese economy…

Highlights Chart 1Reduce Credit Exposure Reduce Credit Exposure…