
Last Week at a Glance
Major stock indexes, including in the United States, reached new highs last week, shrugging off the US federal…
Major stock indexes, including in the United States, reached new highs last week, shrugging off the US federal government shutdown and ongoing labor market weakness.
Historically, shutdowns have been short-lived and have had negligible economic and market impact. As such, well-diversified investors need not take specific portfolio action in response.
No. Despite last week’s rate cut, we do not recommend that most investors increase their core real estate exposure.
Yes. Current market expectations for the Federal Reserve to lower its policy rate by roughly 150 basis points by the end of next year are overly optimistic.
Once perceived as a US ally, India has recently been thrust into geopolitical crosshairs. Given the increased macro uncertainty, we would not overweight India at this time, particularly as equity valuations remain elevated despite the recent underperformance. Trade policies remain in flux, and there are measures that India can take to counter the near-term impact of tariffs. However, investors should monitor negotiations around India’s Russian oil imports, as these could have wider implications for the economy and market, especially the rupee.
Yes. In our view, developed markets ex US small-cap stocks are well positioned to continue outpacing their larger-cap counterparts due to three key factors: reduced sensitivity to global tariff changes, attractive relative valuations, and improving international economic fundamentals.
Description: In today’s environment, building resilient portfolios is essential. Inflation risks are elevated and macroeconomic uncertainty is high. Allocating capital to hedge macro risks may reduce returns, so investors should carefully consider risk tolerance, objectives, and spending needs when assessing their allocations.
No. Although recent underperformance has led some investors to question whether trend-following is facing deeper structural issues, the strategy is inherently cyclical.
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