Outlook at a glance
As economies continue to rebalance, we encourage investors to
position their portfolios to risk manage and exploit economic and
policy differentiation. In our Global Investments Outlook report,
we explore the macro outlook for the major economies across the
globe, including the U.S., Europe, China, Japan, Australia, and
Canada, the portfolio priorities that asset owners should look to
adopt, and identify key investment opportunities.
For 2024 and 2025, we prefer a balanced portfolio, with a higher
weight to government bonds, equity alpha and other uncorrelated
diversifying alphas. This is because risks around our growth
outlook are tilted slightly to the downside. We also expect
interest rate volatility and government bond yields to fall.
Finally, stock concentration, valuation and dispersion support
active equities.
