Multi-Asset Solutions Weekly Strategy Report

Also Interesting

• Global Macro Update
• Italy: EC paves way for excessive deficit procedure
• Can Momentum Investing Be Saved?

Global markets and multi-asset portfolios

• The U.S. economy is in late cycle and will likely become progressively less resilient to shocks. Moreover, the U.S. equity market has already run a long way this cycle, begging the question of whether it is appropriate to take equity risk outside of the U.S.
• Ultimately, however, the U.S. economy is doing well and growth momentum is a powerful trend that will likely underpin corporate earnings and stock market performance for now. Meanwhile, divergent global growth patterns have caused markets outside of the U.S. to lose some of their appeal.
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