The Weekly Strategy Report (10 April 2017) - J.P. Morgan Asset Management
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The Weekly Strategy Report (10 April 2017)

Contributor Multi-Asset Solutions
In brief
  • 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

Source: Bloomberg. Data through March 31, 2017. For illustrative purposes only.
The Weekly Strategy Report (17 April 2017)

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