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Our April Key Investment perspectives tackles “March Madness”— a drama laden month for markets headlined by the end of Special Counsel Robert Mueller’s investigation, the Federal Reserve’s announcement of no additional rate increases this year, and the implications of the inverted yield curve. In this month’s analysis, we also touch on the impact of the ongoing Brexit debate and the latest economic data behind a market on the rise (China) and market seeing declines (Brazil).

Key Takeaways

  • Global Equities: Even with the end of Robert Mueller’s investigation, market reactions were tepid and were ultimately influenced more by the inverted yield curve. We maintain a “cautious but not bearish” position.
  • Fixed income: Treasury markets rallied in March with the long treasury index up over 5%. Meanwhile, we saw a rally in investment grade corporates and a muted high yield.
  • Tactical Allocation: We maintain a modest overweight to equities with a focus on larger cap US stocks. On the other end of the spectrum we hold modest underweights to bonds, specifically high yield bonds, and a neutral stance on emerging markets.

About Bola Olusanya

Bola Olusanya has more than 20 years experience in investment management as both an executive and thought leader. As Managing Director of Asset Allocation and Portfolio Strategy with Key Private Bank, Bola applies his expertise to direct Key Private Bank’s third-party manager research efforts, oversee the group’s portfolio construction efforts, and design an asset allocation methodology applicable to all stakeholders.

Bola received an MBA with a concentration in finance from Emory University and an MS in computer science from the University of Lagos. He is known for his quantitative expertise, his extensive knowledge of the full spectrum of asset classes, and his ability to mentor and manage high-performing investment teams.

Disclosures

This piece is not intended to provide specific tax or legal advice. You should consult with your own advisors about your particular situation.

Any opinions, projections or recommendations contained herein are subject to change without notice and are not intended as individual investment advice.

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