Generating solid returns with a globally diversified portfolio strategy has been a breeze this year. Short of making extreme bets in the handful of losers among the major asset classes, the tail wind of beta has otherwise been kind – especially for US-oriented strategies.

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High cost of living weighs on US consumer sentiment in October. “Despite strong labor markets, high prices and inflation remain at the top of consumers’ minds,” notes Joanne Hsu, director of the University of Michigan’s Consumer Sentiment survey, in a statement. “Sentiment is currently 8% stronger than a year ago and almost 40% above the trough reached in June 2022. While inflation expectations have eased substantially since then, consumers continue to express frustration over high prices.”
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