Asset Allocation: The currency arms race

  • Trade war morphing into currency war as China weaponises the yuan
  • Much more CNY weakness likely if US ratchets up tariffs: we go -2
  • Flat yield curve, tighter liquidity, Tech woes all extra risks for global equities
  • US stocks’ safe-haven status also threatened by strong dollar, rich valuations
  • Last month’s risk reduction paid off; our asset allocation is broadly unchanged
  • But we add some EM equity risk (Mexico, India) and reduce DMs (Japan, France)
  • Risk aversion limiting rise in global yields: we stay o/w government bonds

Economics

Politics

VIDEO

Video

View our summary videos on fast trending topics. To listen to a recording of our Conference Calls, please get in touch with zdl@tslombard.com

READ MORE
TRACK RECORD

Track Record

We have a 29 year track record of successful calls. Many of these calls combined economic, political and market analysis.

READ MORE
PRESS

Press

To request an interview with a member of our team, please get in touch zdl@tslombard.com .

READ MORE

Menu

Client Login


Don't have an account? CREATE YOUR ACCOUNT
READ MEET TALK