Professional Wealth Managementt

By PWM Editor

“The US economy is on track for a housing and consumer-led mid cycle slowdown but we believe the probability of a recession is marginal. The Fed is likely to cut rates in 2007. We favour a defensive stance on equities and have a rather balanced style mix. On the fixed income side, we had increased our exposure and therefore benefited from the interest rate environment. We are now more on the way to slightly reduce this stance as the risk reward has become less appealing.”

 

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