Growth has improved substantially. Most of the acceleration we had
\nexpected is now behind us, but we expect growth to be sustained at
\ncurrent or slightly higher levels, with the US growing at around 3% through
\n2017. We think the likelihood of a rise in government bond yields has
\nincreased and see this as a key aspect of the near-term macro outlook. <\/p>\n
Equities<\/strong>: We downgrade to neutral over 3 months as a sell-off in bonds Commodities<\/strong>: We expect dispersion within commodities due to different Corporate credit<\/strong>: We downgrade to underweight over both 3 and 12 Government bonds<\/strong>: We stay underweight. We expect yields to rise due Investment themes<\/strong>: We seek to benefit from sustained growth at current According to Goldman Sachs, the likelihood of a rise in government bond yields has increased and Goldman Sachs see this as a key aspect of the near-term macro outlook…<\/p>\n","protected":false},"author":1,"featured_media":35863,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1483],"tags":[1809,1743,1856,1859,1659,1671,1681,1651,1437,2087,1693,2068],"_links":{"self":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/35865"}],"collection":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/comments?post=35865"}],"version-history":[{"count":0,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/35865\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media\/35863"}],"wp:attachment":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media?parent=35865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/categories?post=35865"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/tags?post=35865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\ncould lead to a temporary sell-off in equities. This makes the near-term risk\/
\nreward less attractive despite our strong conviction that equities are the
\nbest positioned asset class over 12 months, where we remain overweight. <\/p>\n
\nsupply situations together with backwardation to drive returns and see
\nopportunities in nickel, zinc palladium and aluminum. However our return
\nforecast for the asset class as a whole is low and we remain neutral. <\/p>\n
\nmonths. We think spreads will narrow slightly, but given already tight
\nlevels, rising government bond yields are likely to dominate the returns,
\nespecially for US IG credit where spreads are the lowest. <\/p>\n
\nto sustained high US growth and accelerating inflation, a decline of
\ndeflation concerns in Europe and an improving inflation outlook in Japan. <\/p>\n
\nhigher levels and the return of cash to shareholders. <\/p>\n","protected":false},"excerpt":{"rendered":"