Asset allocation is turning pro-risk – Goldman Sachs
|Robin Brooks, Research Analyst at Goldman Sachs, suggests that their asset allocation is turning pro-risk.
Key Quotes
“We think the reflation trend will extend into 2017, and expect global growth to pick up to 3.5% in 2017 vs. 3.1% in 2016, as the macro data of late are already starting to show. We have moved to Overweight Equities and Commodities and down to Neutral on Credit. We see three key themes as we enter 2017: (1) a reflation continuation, (2) a resurgence of divergence and (3) going from hope to growth in EM. Three risks to this are: (1) rate shock and diversification desperation, (2) reflation frustration and late-cycle realization, and (3) continued political and policy uncertainty.”
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