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Short-term tactical outlook

Market Outlook Sep 2017

A snapshot of current views on equity, fixed-income and alternative asset classes — updated monthly to help you tactically adjust for opportunities and risks.

Overall positions

Equities

Fixed income

Alternatives

Cash

Key Takeaways

  • Overall the market has seen historically low volatility, but August did demonstrate some modest volatility.
  • Our most significant observation this month is that even just a little volatility can cause a meaningful deterioration in our outlook.
  • Our overall allocations to risky asset classes remain neutral, but they are leaning toward becoming more conservative.

Within equities

Within equities

Within fixed income

Within fixed income

Within alternatives

Within alternatives

Currency

Currency

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Jeffrey L. Knight

Global Head of Investment Solutions and Co-Head of Global Asset Allocation

Jeff Knight leads the Global Asset Allocation Team, a dedicated group of investment professionals who manage asset allocation portfolios. The team evaluates economic conditions, market opportunities and risks across the global landscape to determine asset allocation views.

Disclosures

Alternative investments involve substantial risks and are more volatile than traditional investments, making them more suitable for investors with an above-average tolerance for risk. Foreign investments subject the fund to risks, including political, economic, market, social and others within a particular country, as well as to currency instabilities and less stringent financial and accounting standards generally applicable to U.S. issuers.

Diversification does not assure a profit or protect against loss.