From an economic perspective, the global economy appears to be in good heart. The environment for equities remains broadly neutral, as central banks unwind their stimulatory policies in response to improving growth prospects rather than the need to stamp out any problematic rising inflation. However, even though interest rates are starting to rise, bonds are not yet particularly attractive.
A balanced and diversified approach to investment remains appropriate: as well, clients should remain close to their benchmark targets for risk control.
