Didn’t buy U.S. banks after all

Genevieve Signoret

(Hay una versión en español de este artículo aquí.)

On May 31st, we announced our intention to open equity overweight positions in regional U.S. banks for U.S. resident clients and U.S. banks generally for clients who reside in Mexico. Almost as soon as we published that decision, however, the sector ceased to meet our overweight criteria and has never regained it. We therefore cancelled this planned opening of a seventh equity overweight, leaving our list of equity overweights at the following six:

1. USD-hedged Japan
2. Emerging markets
3. Poland
4. U.S.  Internet stocks
5. Global airline stocks
6. U.S. communication services

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