Asset Allocation Outlook
The US election results certainly left their mark on the financial markets. US equities noted the largest monthly upturn of this year in November, while emerging market equities were forced to endure a loss for the second consecutive month. Europe and Pacific succeeded in earning a small positive result. US bond yields initially climbed but were unable to maintain the higher levels. Yields were down slightly across the month overall. Bond yields also fell in the US and Germany, with Germany experiencing the biggest downturns. The difference between the US and Europe could also be seen in spreads on credits. These tightened in the US but widened marginally in Europe.
Please see Van Lanschot Kempen’s Asset Allocation Outlook for December. The highlights this month are:
- US equities benefit from election results
- Turmoil surrounding French budget not a systemic risk
- Equity overweight maintained
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