Disclaimer: Your capital is at risk. This is not investment advice.
The AAA Model has shifted focus, dropping industrial metals in favour of global equities. Equity markets continue to do well, as is normally the case in the fourth year of the U.S. presidential election cycle.
The S&P 500's "Magnificent Seven" stocks dominate, comprising 31% of the index. We are in bubble conditions, with significant volatility in some assets like commodities and Indian equities. Despite this, gold remains a strong hold with potential new highs in sight. High-quality equities, with stable earnings and low debt levels, are the best buys now. Bonds, however, are less appealing due to persistently high inflation and limited rate cuts. Stick with equities.
