Inflation Protected

Our Portfolio Allocation Summary for September 2024.

Our Portfolio Allocation Summary for August 2024.

In this report, we present the quarterly review of our Model Bond Portfolio. Rebounding growth and political instability led to slightly negative portfolio performance in Q2/2024. As global growth starts to moderate, we continue to favor government bonds over credit. Maintain a defensive portfolio stance.

We consider the outlook for CPI inflation over the next 12 months. Our baseline forecast calls for core CPI to hit 2.40% during this timeframe and for headline CPI to fall between 1.74% and 2.49%.

Our Portfolio Allocation Summary for July 2024.

In light of this week’s RBA decision to keep policy on hold, we look at the best possible trades in fixed income markets. In our view, inflation-linked bonds, relative to nominals remain a good bet.

Our Portfolio Allocation Summary for June 2024.