Nothing much has changed since our posting last week. As far as the US is concerned we are more bullish on the fixed income market than the equity market. We recommend a 70% bonds, 30% stocks for the US. For emerging markets, we are more bullish on the equity markets.
Emerging markets to look at are: India, South Korea, Taiwan, South Africa, and Malaysia.
Even though we have exposure to US bonds versus equity, we believe the US stock market is 14% under valued. However, that valuation will occur over the next year and half.
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