Asset Allocation Outlook January

9 February 2023

Asset Allocation Outlook February

After a difficult 2022, financial markets got off to a flying start in 2023. This was nothing more than the optimism that has prevailed since October last year resuming in January after a brief interruption in December. Lower inflation and hopes that central banks are coming to the end of this cycle of interest rate hikes continue to be major drivers for the financial markets. US and UK 10-year government bond yields fell by about 35 basis points, their German counterparts by 29 basis points.

Please see Kempen’s Asset Allocation Outlook for January. The highlights this month are:

We still expect a recession in Europe and the US
Central banks set to raise interest rates further
Asset allocation remains cautious

2023, 9 February

Asset Allocation Outlook February

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