Relative Value & Tactical Asset Allocation – Q2 2025

Relative Value & Tactical Asset Allocation – Q2 2025

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Jun Jiang Wei Wei Drew T. Matus
MAR 25, 2025
Relative Value & Tactical Asset Allocation – Q2 2025
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Key Takeaways

  • Market Strategy anticipates slower growth and desynchronized central bank policies.
  • Market Strategy expects equity market volatility to rise compared to a relatively calm fixed-income market.
  • A carry strategy is preferred for asset classes with longer durations.
  • Sectors linked to the short- and mid-term of the U.S. yield curve may be appealing from a total return perspective.
  • Market Strategy sees more stress from U.S. consumers under the surface of a strong labor market.