Is the early cycle phase over? No, but headwinds are mounting. Begin to allocate to digital assets as an alternative portfolio hedge. Continue to tilt towards cyclicals & value stocks, fade bonds, and hedge inflation risk.
Key Takeaways for Astoria’s Q2 Investment Committee Outlook
Avoid bonds like the plague
We stick with the pro-cyclical tilt we have had since June 2020 but acknowledge headwinds that are starting to appear (higher taxes, rate hikes)
Rate hikes are on the horizon in 2022 if the economy prospers as everyone expects
Massive ETF flows continue. Wow!
The boom in digital assets is only starting. Their volatility is quite large, so size it accordingly in your portfolio.
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