In this month’s edition of Portfolio Pespectives, the key messages for investors are:
- We remain late cycle but believe a “soft landing” is still plausible
- The services sector, not manufacturing, has a more significant impact on the global economy
- As long as the Services Purchasing Managers Index across the US, Eurozone, Japan and China remain above 50, a “hard landing” is unlikely
- Retail spending continues to support the services sector because employment conditions remain strong
- Inflation remains sticky and Central Bank interest rate cuts may take longer than the market expects
- There is a risk that the Reserve Bank of Australia will have to raise interest rates
- Consider adding Global Small Caps to your portfolio
To access the full Portfolio Perspectives for March 2024, download the PDF here, along with the charts & commentary.
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