The equity allocation jumped to maximum weighting.

All indicators, which weigh the relative attractiveness of stocks and bonds, favor stocks.

International Developed, U.S. Large Caps, U.S. Growth, and U.S. Value received the highest allocations. Click the link below to read more about the strategy’s positioning.

Full strategy commentary: NDRDAS202503031

Other posts

MI2 for C8 – The FX Year Ahead – Turning Japanese – Feb 2024

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Japan is likely to come into increasing focus this year. With bond yields now being allowed to rise as the BoJ’s Yield Curve Control experiment comes to an end, the BoJ’s roadmap to ending NIRP (if things go to plan), the multi-decade underperformance of Japanese equities still fresh in asset allocators’ minds (despite some promising upside momentum) and a chronically weak currency, (especially on a real effective, inflation-adjusted trade-weighted basis), there is plenty of potential for disruption. Read more →

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Thoughts From The Divide: Breaking up is hard to do

BY JON WEBB
Friday is a Non-Farm Payroll day, and the early indications have pointed to a softer report. Private sector hiring, as reported by ADP, rose by just 37,000 in May, the lowest in more than two years. The weekly claims data added to the impression of softness in employment, hitting a seven-month high. While 247,000 claims are hardly a collapse, it might indicate less “fat” in the labour market, meaning that the Labour market doesn't have the momentum it had in '22. Read more →
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