(Hay una versión en español de este artículo aquí.) We’re slowly opening an equity overweight position in U.S. banks. We’re focusing on regional banks for the U.S. tax residents among our clients and banks overall for those who file in Mexico. We differentiate based on tax efficiency criteria. Share prices in U.S. banks are currently […]

(Hay una versión en español de este artículo aquí.) We closed out client equity positions in Latin America and used the proceeds to open a new position in emerging markets. Within emerging markets, this new position sharply reduces our concentration in Latin America to under 10% from its previous 100%, strongly overweighting emerging Asia―especially China, […]

(Hay una versión en español de este artículo aquí.) This update refers to our strategy for U.S. or Mexican government debt holdings in portfolios with investment horizons of up to two years for which withdrawal dates and amounts are unknown. Because we see monetary policy rates in both Mexico and the United States coming down […]

(Hay una versión en español de este artículo aquí.) Fixed Income: Extended average duration Because we see inflation still trending down and unlikely to resurge and think that the Fed, though reluctant to cut rates, is done hiking them; and because we expect the Fed to begin to taper off and eventually end its quantitative […]

(Hay una versión en español de este artículo aquí.) Where are we in this series? This is one more post in a series laying out our current portfolio strategies. This time our focus is on liquid alternative assets, or liquid alts. We explain how we use the term liquid alts here. In our prior two […]

(Hay una versión en español de este artículo aquí.) This is the second post in our three-part series updating you on our portfolio strategies. Check out our first post, covering fixed income, here. Today we cover equity. Our core equity holding is still the world stock market. And we remain overweight U.S. communication services. But […]

(Hay una versión en español de este artículo aquí.) Last week in our sister blog, Timón Económico, we wrote that we had revised up to 60% from 55% the subjective probability we assign to our central scenario, in which the United States enjoys a soft landing rather than sliding into recession. Here, we begin a […]

(Hay una versión en español de este artículo aquí.) We’ve revised our portfolio strategies. Equity: Overweighting global high-dividend stocks and Indonesia The equity move We’re opening new overweight equity positions in global high-dividend stocks and Indonesia. This will add to existing equity overweights in Mexico, developed market energy, U.S. communication services, and U.S. and global […]

(Hay una versión en español de este artículo aquí.) We’ve revised our portfolio strategies for clients whose fiscal residence is Mexico. Overweighting global oil and gas exploration and production The move For all such clients, we’re opening a new overweight equity position in global oil and gas exploration and production. This will add to existing […]