FYI: The financial markets have seen a fair amount of volatility over the past few months as stocks have continued to grind higher. Market expectations of a Fed rate cut and reasonably positive news on trade from the G-20 meetings further fueled stock prices. While positive for returns, the Investment Solutions Group has taken a more defensive positioning within our model portfolios. Why? Because valuations are less attractive, earnings growth expectations have been reduced, and we believe the positive benefits of a Fed rate cut have already been priced into equities.
Regards,
Ted
https://global.spdrs.com/blog/post/2019/aug/us-model-portfolios-move-to-de-risk-growth-assets.html
