Tactical Investment Strategy — October 2023
October 10, 2023 — Tactical Investment Strategy provides an overview of key economic and policy themes and how Sage is tactically positioned in the current market environment.
Key Takeaways
- While US growth has surpassed expectations, we expect lagging data to begin to rollover slowly in the coming months as consumer strength starts to fade under the growing impact of a restrictive Fed and elevated inflation.
- Heading into the fourth quarter, the mix of macro drivers supports our view to stay defensive on risk assets, extend duration, and prep for volatility. Our view is that the Fed is almost done hiking and resilience in labor and consumer data will keep some pressure on rates in the near-term, but more optimistic growth revisions are already baked in.
- From a positioning perspective, we remain defensive across our asset allocation, with a modest overweight to fixed income.
Featured Insights
Fixed Income
Anatomy of a Selloff
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Sage Advice Quarterly Market Review 3Q23
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