Multi-Asset outlook: Q4 2024
What do current market dynamics mean for asset allocation? The Market GPS Multi-Asset Quarterly highlights key drivers and shares the Multi-Asset Team’s dashboard that informs their positioning.
1 minute read
Key takeaways:
- Economic strength, a resilient labor market, and lower interest rates mean the U.S. remains the bulwark of a global soft landing but China may now provide further support.
- While an artificial intelligence (AI) super-cycle might support equity large caps, we believe small and mid-caps have more space to run as interest rates fall and a soft landing supports risk assets generally.
- Economic resilience is a headwind for sovereign bonds but can support weaker borrowers in high yield. Longer maturities might see a drag if it becomes apparent interest rates might not fall as far as markets expect.
The Janus Henderson Multi-Asset Team applies a “partnership and transparency” approach, providing access to differentiated insights, disciplined investments, and world-class service. This quarterly update shares the team’s views on market dynamics as well as the dashboard that informs their positioning across Janus Henderson’s range of multi-asset models and portfolios.
DownloadEquity securities are subject to risks including market risk. Returns will fluctuate in response to issuer, political and economic developments.
Fixed income securities are subject to interest rate, inflation, credit and default risk. As interest rates rise, bond prices usually fall, and vice versa. High-yield bonds, or “junk” bonds, involve a greater risk of default and price volatility.
Smaller capitalization securities may be less stable and more susceptible to adverse developments, and may be more volatile and less liquid than larger capitalization securities.
Sovereign debt securities are subject to the additional risk that, under some political, diplomatic, social or economic circumstances, some developing countries that issue lower quality debt securities may be unable or unwilling to make principal or interest payments as they come due.
Related insights
All opinions and estimates in this information are subject to change without notice and are the views of the author at the time of publication. Janus Henderson is not under any obligation to update this information to the extent that it is or becomes out of date or incorrect. The information herein shall not in any way constitute advice or an invitation to invest. It is solely for information purposes and subject to change without notice. This information does not purport to be a comprehensive statement or description of any markets or securities referred to within. Any references to individual securities do not constitute a securities recommendation. Past performance is not indicative of future performance. The value of an investment and the income from it can fall as well as rise and you may not get back the amount originally invested.
Whilst Janus Henderson believe that the information is correct at the date of publication, no warranty or representation is given to this effect and no responsibility can be accepted by Janus Henderson to any end users for any action taken on the basis of this information.
1 minute read
Key takeaways:
- Economic strength, a resilient labor market, and lower interest rates mean the U.S. remains the bulwark of a global soft landing but China may now provide further support.
- While an artificial intelligence (AI) super-cycle might support equity large caps, we believe small and mid-caps have more space to run as interest rates fall and a soft landing supports risk assets generally.
- Economic resilience is a headwind for sovereign bonds but can support weaker borrowers in high yield. Longer maturities might see a drag if it becomes apparent interest rates might not fall as far as markets expect.