Short-term tactical outlook

A snapshot of current views on equity, fixed-income and alternative asset classes — updated monthly to help you tactically adjust for opportunities and risks.

Overall positions

Key Takeaways
  • We believe credit markets are more attractive as we head into 2019, and we’ve upgraded our positioning to fixed-income assets.
  • We expect equity volatility to continue in January. It was above average in the fourth quarter of 2018, and we expect it to remain this way for the time being.
  • We don’t have preferences across specific regions. Our equity positioning is neutral across the U.S., developed
    international markets and emerging markets.

Within equities


Within fixed income


Within alternatives