Asset allocations: Remain patient as economy slows down
Change from previous quarter
|U.S. large cap|
|U.S. small cap|
|Non-U.S. developed country|
|Investment grade / High yield / Floating rate|
|Residential mortgage credit|
|Commercial mortgage credit|
Currency viewsU.S. dollar versus
|Favor other||Neutral||Favor dollar|
Remain underweight to equity risk
Aside from the Magnificent Seven AI stocks, most of the equity market is showing lackluster forward earnings revisions.
Corporate credit could feel pressure
We continue to expect the economy will slow and perhaps stall near the end of the year.
Neutral on commodities
Commodity markets are painting an unflattering picture of the global economy.
July 12, 2023 | Capital Markets Outlook
Generative AI offers potential in the digital economy, but prudent investors should carefully weigh the value of patience in this stock market rally.More »