2024 | Monthly Outlook | Multi-Asset
The monthly outlook discusses divergent expectations across asset classes regarding future interest rates. Commodities, gold, and government bonds suggest an economic slowdown, while equities and credits anticipate growth.
The inconsistency in assumptions across asset classes highlights market uncertainty.
Gold’s performance indicates a risk asset status, while equities are buoyed by the AI boom. Bonds are sensitive to rate changes, with lower rates boosting their outlook. The real issue is excess liquidity from quantitative easing and government spending, leading to too much money chasing too few assets.
Highest Conviction Views | Summary
