AIIQ - Asset Allocation Views: Easing Into Slowing Growth
We are in a late cycle environment in which macro conditions are increasingly signaling deterioration, and this fact alone calls for nuanced portfolio construction. However, our macroeconomic analysis suggests that the economic softening so far has been largely offset by central banks around the world pivoting to easing, which has loosened financial conditions considerably. Looking forward, it still remains unclear if the loosening of financial conditions will manage to turn the outlook around.
Here is how we are positioning multi-asset allocation portfolios in light of our outlook for the global economy and markets.