Tactical Asset Allocation

The global economy persists in a 'slowdown' regime with above-trend but moderating growth amidst US-Iran tensions. Invesco remains risk-neutral, favoring defensive equities and shifting to a neutral USD stance.

Key Takeaways

• 1.The global economy remains in a 'slowdown' regime, characterized by above-trend growth that is decelerating.
• 2.Investment positioning is risk-neutral relative to benchmarks, maintaining a slight overweight to equities vs fixed income with a focus on defensive factors.
• 3.The US dollar view has shifted from bearish to neutral due to weakening economic data in Europe and emerging markets relative to the US.

Table of Contents

• Synopsis
• Macro update: Continuing a balanced slowdown stance
• Investment positioning
• Regime signal history
• Investment risks
• Important information

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