Asset Allocation Outlook July

10 July 2023

Asset Allocation Outlook

Bond yields climbed in June as central bankers continued to insist on further interest rate hikes. This was true of both short and long-term yields in the US, Germany and the UK. The increase of almost 1 percentage point in UK 2-year bond yields was particularly striking. Yields in the UK are now higher than they were during the crisis triggered by the Truss government’s budget in September and October last year.

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

Leading indicators pointing to a slowdown
Central banks insisting on further interest rate hikes
Cautious investment policy unchanged

2023, 10 July

Asset Allocation Outlook

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