Our Investment Clock remains in its ‘Overheat’ phase, with increased risk of inflation, although the global economy is showing some signs of slowing.
With investor sentiment staying neutral, we have taken further profits on the extra equities purchases made during the market lows and March; we also reduced the overweight allocation to commodities.
Proceeds of these sales were moved into government bonds and cash. Longer term, we remain positive on stocks and are overweight global equities, global high yield bonds and commodities.
You can access up to date views from Trevor on the market and the movements of the Investment Clock on our Latest Investment Clock updates page.
Overweight | Neutral | Underweight | |
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Equities | ![]() |
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Property | ![]() |
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Commodities | ![]() |
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High Yield | ![]() |
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Gilts | ![]() |
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Index Linked | ![]() |
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Corporate Bonds | ![]() |
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Absolute Return Strategies (including cash) | ![]() |
Directions of arrows show overall change from previous tactical change. For individual portfolio changes, please see factsheets.