Asset Allocation

Positioning for Recovery Amid Uncertainty

Timothy C. Murray, Capital Markets Strategist
Key Insights
  • The drivers of uncertainty are liquidity concerns, the alarming spread of the virus, and the pandemic’s impact on global economies.
  • In our multi-asset portfolios, we are gradually adding to equities and increasing our exposure to credit sectors.

The current crisis is an unprecedented twin “black swan” event involving both a pandemic and a major shock in oil prices. The key factors driving uncertainty in this environment are liquidity concerns, the alarming spread rate of the contagion, and the pandemic’s toll on global economies.

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