Multi Asset Boutique

Vescore Global Market Outlook September 2019

Outlook
  • Intact asset pricing on political markets

  • Risk indicator shows high-risk state

  • Equity overweighting close to maximum

  • Neutral bond allocation at around 0%

  • Commodities: Focus on trade dispute escalation

  • Swiss equities: Value factor still attractive

Intact asset pricing on political markets

The market environment is defined by political upset and tensions. Meanwhile, fundamental/economic asset pricing is still intact.

Flat term spreads in the GLOCAP sample portfolio are translating into high levels of equities.

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