Quarterly report
Fed pivot and disinflation lift markets but higher dispersion of returns may continue. Central bank caution, recession and valuation risks remain
Key highlights:
- Disinflation and Fed pivot provides tailwinds
- Dispersion is trending higher. Global ex-US equities doing well
- Duration gains appeal. Valuation favors Treasuries and Euro bonds
- Recession and downside risks remain in the next 6-9 months
- Alternate asset classes remain attractive
- Diversification remains key
Published quarterly, this report covers:
- Key macroeconomic influences and their implications for financial markets
- Core drivers across asset classes – and what they are indicating
- Cross-asset analysis – expectations, risk premiums, return and risk, correlations and more · Implications for asset allocation and portfolio construction
- Market analysis provided exclusively via our indices, and Refinitiv and Lipper flows data – enabling apples-to-apples comparisons across asset classes and global markets
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