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Vontobel Multi Asset Boutique
2022-09-14_60-40-portfolios-back-in-fashion-despite-an-annus-horribilis_teaser
Viewpoint | Read | 5 min

60/40 portfolios back in fashion despite an “annus horribilis”

The Queen may have remembered 1992 as her “annus horribilis,” but for financial markets and particularly multi-asset investors, it’s 2022 that deserves this sorry distinction. However, with Jerome Powell moving the federal funds rate ever higher, “60/40” may yet be back in fashion, according to our multi-asset expert Anton Oberhofer.

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Vontobel Multi Asset Boutique
2022-09_Investors-Outlook_teaser
Outlook | Read | 2 min

Investors’ Outlook: Central bank chiefs ready to slug it out over inflation

At the Jackson Hole summit, Jerome Powell didn’t yield an inch to critics of his policy, flying his fierce inflation-fighting colors instead. With the powerful US Fed chief blazing the tightening trail, other heads of central banks will follow. This is one reason why Dan Scott and Vontobel’s investment strategists expect inflation to come down.

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Vescore
2022-09-078_back-to-defense-mode-amid-tough-love-by-central-banks_teaser
Market Update | Read | 2 min

Back to defense mode amid tough love by central banks

At Jackson Hole, any lingering hopes for a swift dovish pivot by central banks due to a deteriorating growth outlook were finally wiped out. In response, markets tanked and put a firm end to what we can now all agree was a mere bear market rally over the summer months. Now, it is time to focus on risk in portfolio construction and resort to assets that offer some shelter from higher volatility levels.

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Vescore
Market Update | Read | 4 min

EU fragmentation risks loom large as central banks tighten amid patchy economic data

For a sustainable recovery central banks may have to switch out of tightening into easing mode. This is unlikely to happen as long as inflation rages on. In the meantime, equities might still be a better bet than spread products as liquidity and European fragmentation risks in debt markets loom, while currencies will become more important as alpha sources in portfolios.

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