The Investment Clock approach generates growth and inflation readings based on past trends and the current momentum of lead indicators. These indicators are updated on a monthly basis to build an expectation of how the global economy may perform over the coming three to six months.
The growth reading sets the relative weighting of cyclical and defensive assets (North-South on the clock diagram). The inflation reading sets the weighting of financial assets versus real assets (East-West).
2016 is drawing to a close with the strongest economic backdrop in a number of years.
After Donald Trump’s victory in the US election, populism has claimed its second victory of 2016.
Two unexpected developments have had a big impact on markets this year.
August was a quiet month in terms of policy developments and both stocks and bonds traded in tight ranges.
This material is for investment professionals only and should not be relied upon by private investors.
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