Professional Wealth Managementt

By PWM Editor

“No significant change in our portfolio since last month. The slowdown in the US economy is sufficient to reduce inflation pressures, but not enough to crush earnings. We believe the probability of a recession is marginal. Decent equity valuations are supportive in both absolute and relative terms. We favour a defensive stance on equities. Yields in the US may have more downside on the mid-term, however in the short run, risk return is less appealing and we feel comfortable with our current stance.”

 

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