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Market Perspectives April 2019
Find out our latest key investment themes. And with volatility set to stay elevated in 2019, can markets head higher still this year?
Barclays Private Bank views on the positioning of assets in your portfolio.
Cash and short duration bonds: Overweight | Our preference for better quality, higher liquidity opportunities translates into our conviction for short duration bonds, which are better poised to cope with a flattening yield curve as yields have become more attractive in the short end. |
Developed equities: Overweight |
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Developed government bonds: Neutral | Sovereign bonds worldwide have been losing their appeal as interest rates have remained at historically expensive levels amid lower economic growth, inflation and monetary policy expectations in most parts of the developed world. Given this backdrop, we anticipate the asset class to predominantly be a diversifier rather than a major source of returns. |
Investment grade bonds: Neutral |
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Emerging markets equities: Neutral |
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Commodities: Neutral |
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High yield and emerging market bonds: Underweight |
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Real estate: Underweight | Real estate should continue to provide mild diversification benefits. We anticipate a loose monetary policy to favourably impact returns, although weaker economic growth could prove to be a headwind. |
ATS: Underweight | We maintain a low conviction in ‘alternative’ assets due to high expense and a lack of investment opportunities. We continue to consider the asset class primarily as a diversifier and focus on funds with a low to negative correlation to equities. |
Find out our latest key investment themes. And with volatility set to stay elevated in 2019, can markets head higher still this year?
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