Asset Allocation Outlook
April was a quiet month on the financial markets. Government bond yields barely moved, with the exception of upturns in yields on bonds at the extremely short end of the yield curve in the US and more generally in the UK. The higher yields in the UK were mainly a normalisation following the downturns in March.
Please see Kempen’s Asset Allocation Outlook for May. The highlights this month are:
- Banking sector turmoil: minor direct impact
- Monetary and financial tightening poses risk to growth
- Cautious investment policy unchanged
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