BIBL - Tactical Asset Allocation - October 2020

• We believe the global economy continues to improve and we expect its upward trajectory to persist for the rest of the year.
• We maintain a higher risk posture than the benchmark in our Global Tactical Asset Allocation model, sourced through an overweight exposure to equities and credit at the expense of government bonds.
• As discussed in more detail below, we believe the overall performance of risk assets is likely to be positive over the medium term (multiple months or quarters) regardless of the election outcome, and it can be driven by more enduring drivers of market performance such as growth, fiscal and monetary policy.

For further details see: