A resilient risk-on sentiment continued to drive markets in October. The equities, real estate, and commodities categories are supported by improving fund flows and steady positive trends. Our three-pillar model highlights renewed strength in real estate and utilities, while consensus on bonds remains cautious despite solid inflows. Discover where institutional conviction is building — and where sentiment is starting to shift.
Overall, our Money Talks Money Walks model maintains its risk-on stance. However, there are some changes in September, notably in the model recommendations for government bonds and Japanese equities.
Even in August’s buoyant markets, our Money Talks Money Walks model signaled important shifts — with bonds, and especially emerging market debt, in the spotlight.
Quantitative Asset Allocation Money Talks, Money Walks - August 2025
Monday, 11 August 2025
Cautious optimism prevailed in July, with equities hitting new highs, bonds showing resilience, and the US dollar staging a brief rally. Our latest Money Talks Money Walks report shows that equity markets in all regions now have an overweight recommendation while global equity sector consensus is turning increasingly bullish as well. Overall, our three-pillar model continues to point at a risk-on investment climate..
