Global Portfolio Strategy | January 3, 2022

Key changes from December’s report: Upgraded growth to neutral, downgraded value to neutral Upgraded large caps to neutral, downgraded small and mid caps to neutral Upgraded healthcare to neutral, downgraded industrials to neutral Stocks rose slightly in December, as...

Global Portfolio Strategy | December 1, 2021

Key changes from November’s report: Downgraded materials sector view from positive to neutral Upgraded view on Treasury securities from negative to neutral Stocks fell slightly in November, as the S&P 500 lost 0.8% for the month. For much of the month, stocks...

Global Portfolio Strategy | October 11, 2021

As we highlighted a month ago, September has spelled trouble for stocks historically. Right on cue, the S&P 500 Index slumped 4.8% last month, its first monthly decline since January 2021. After such a strong rally since the pandemic low in March 2020 without so...

Global Portfolio Strategy | September 9, 2021

Key changes from August’s report: Upgrading Midcap Stocks from Neutral to Positive Stocks rose for the seventh straight month in August, as the S&P 500 Index gained 2.9%. Historically, September is the worst month of the year for stocks, on average, and we...

Global Portfolio Strategy | July 15, 2021

Key changes from June’s report: Upgrade Energy from Neutral to Positive. This month we have added our detailed Tactical Asset Allocation weightings compared with benchmarks across five risk objectives.” (see page 3) We see the potential for further gains for stocks...

Global Portfolio Strategy | June 9, 2021

Key changes from May’s report: Upgrade Value from Neutral to Positive, Downgrade Growth to Negative from Neutral. Upgrade Industrials from Neutral to Positive, Downgrade Technology to Neutral from Positive § Upgrade Developed International from Negative to Neutral,...