March 20, 2024

Asset Allocation Insights - March 2024

Quarterly report

Risk rally broadens despite dispersion in macro backdrop and central bank caution on rate cuts. Equities and sovereign bonds decouple, with parallels to Goldilocks. Valuation risks grow in pockets of equities and corporate credit

Key highlights:

  • Dispersion remains a key macro theme 
  • Global risk rally broadens
  • US markets in throwback to 1990s Goldilocks era
  • Key investment themes
  • Emerging markets – a changed asset class?
  • Alternate assets remain attractive
  • Downside risks remain in the medium term

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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