The Wind of Change
Global markets are being shaped by shifting cycles beneath a noisy geopolitical backdrop. Despite wars, energy shocks, and elevated volatility, asset rankings remain stable, with commodities continuing to lead, equities becoming more selective, and bonds under sustained pressure from higher structural risk.
Inflation has re-entered the narrative, driven largely by energy, while gold strengthens as a long-term currency hedge amid gradually fading US dollar dominance. Emerging markets, Japan, and the UK show relative resilience, while China and India lag pending clearer signals.
Our model remains trend-driven, maintaining exposure to leading assets with risk managed through its adaptive asset allocation framework. However, investors can further enhance downside protection through a disciplined stop-loss strategy.
