Pictet's Identify Persuasion April 2018

A fleck generic exactly some worthwhile nuggets.
From Pictet, Apr 10:

Pictet Wealth Management's latest positioning across property classes in addition to investment themes.
Asset Allocation

• While macroeconomic in addition to corporate fundamentals nonetheless favour direct chances assets, challenges bring been steadily increasing in addition to a lot of skillful word is already priced into valuations. We sold role of our equity overweight during the early on March rally.
• Even though nosotros bring give-up the ghost to a greater extent than prudent nearly equities’ short-term prospects, we await to endure able to redeploy the cash generated from this sale every bit novel opportunities arise.
• The ascension inwards volatility was fully expected exactly emphasises the postulate for caution. We are closely monitoring the market’s perceptions of the competitive in addition to regulatory risks emerging for the pocket-size number of high-growth tech stocks that bring led marketplace performance.
• We stay optimistic nearly direct parts of the U.S. of America high-yield universe (less in addition to thence euro high yield), amongst a detail emphasis on bond issuers inwards the upper reaches (BB) of the non-investment-grade ratings scale.

Commodities

• Recent rises inwards crude prices volition contribute to higher headline inflation until the marrow of this year. Having reached roughly USD65 (our cost equilibrium), at that spot are signs the crude marketplace may endure moving toward oversupply....

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