|
Current quarter Previous quarter Change from previous quarter |
Underweight | Neutral | Overweight |
|---|---|---|---|
| Equity | |||
| U.S. large cap | |||
| U.S. small cap | |||
| U.S. value | |||
| U.S. growth | |||
| Europe | |||
| Japan | |||
| Emerging markets | |||
| Fixed income | |||
| Interest-rate sensitive | |||
| U.S. government | |||
| Non-U.S. developed country | |||
| Emerging markets | |||
| Corporate credit | |||
| Investment grade / High yield / Floating rate | |||
| Securitized | |||
| Residential mortgage credit | |||
| Commercial mortgage credit | |||
| Prepayment risk | |||
| Commodities | |||
| Cash |
Currency viewsU.S. dollar versus |
Favor other | Neutral | Favor dollar |
|---|---|---|---|
| Euro | |||
| Pound | |||
| Yen |
Stocks remain unattractive as monetary policy has recently become the most restrictive since mid-2007.
With government bond yields now close to the return potential of stocks, duration may be an attractive strategy to hedge against an economic slowdown.
Recent increases in oil prices do not change the overall outlook.
