Quarterly Outlook
Equity outlook: The high cost of global fragmentation for US portfolios
Charu Chanana
Chief Investment Strategist
Global Head of Macro Strategy
Summary: Intermarket analysis is a conundrum as both safe-haven and risky assets are bid into today’s triple/quad “witching”. The USD rally never really got going and the next test is next week’s FOMC meeting and whether the market has over-anticipated the Fed’s dovish tilt.