10 Apr 2017
The Weekly Strategy Report (10 April 2017)Contributor Multi-Asset Solutions
- Economic activity and inflation data continued their upswing into the first quarter of 2017, maintaining the global reflation theme that has characterized markets since the second half of last year.
- Equity markets took comfort in the improved macroeconomic backdrop and a stable dollar, rallying considerably across the globe.
- Bond markets, however, were a bit more circumspect. Political uncertainties in the U.S. and Europe anchored yields. Meanwhile, the Bank of Japan’s yield curve control policy has successfully kept a lid on yields.
- We remain constructive on risk assets, with a broad-based exposure to equity markets. We retain an underweight to duration, with a focus primarily on lower-yielding bonds such as German Bunds.
EXHIBIT 1: MOST ASSETS PROVIDED POSITIVE RETURNS IN Q1
JPM Global Macro Opportunities Fund
Leveraging global macro themes to generate performance. This fund targets positive returns in various market conditions by capitalising on the opportunities created by economic trends within a risk-controlled framework.
JPM Multi-Asset Income Fund
JPMorgan Global Growth & Income plc