High Conviction Ideas

The combination of monetary policy stances (more patient and flexible everywhere), encouraging tariff negotiations, Chinese authorities proving successful in their resolution to support the economic cycle are all potential triggers (and risks when mirrored) to risk assets and might help produce a positive short lasting reaction.

However, our broad set of risk sentinels keep us vigilant and tilted towards medium/high risk perception in the medium term. This translates into a positive bias towards risk assets while managing duration on lower yield targets.