{"id":5860,"date":"2025-09-30T19:00:15","date_gmt":"2025-09-30T17:00:15","guid":{"rendered":"https:\/\/belvedere-am.com\/?p=5860"},"modified":"2025-09-30T20:55:14","modified_gmt":"2025-09-30T18:55:14","slug":"asset-allocation-q3","status":"publish","type":"post","link":"https:\/\/belvedere-am.com\/en\/asset-allocation-q3\/","title":{"rendered":"Asset Allocation Q3"},"content":{"rendered":"<h4>Tactical adjustments: Focus on Emerging Markets Debt<\/h4>\n<p>The tactical changes concern the slightly reduced underweight in liquidity and fixed income. The cut in global government bonds (mainly U.S. Treasuries) is more than offset by a further increase in emerging markets debt. We remain cautious in CHF and EUR as we see little upside. Overall, we are now back in a neutral position.<\/p>\n<p>In equities, we maintain the existing allocation. Swiss stocks remain over-weight for the time being, as we expect a trade agreement with the U.S. soon. In Europe, we anticipate that large-caps will begin to catch up. Swiss real estate continues to benefit from low interest rates and the abolition of the imputed rental value tax.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-5861\" src=\"https:\/\/belvedere-am.com\/wp-content\/uploads\/Belvedere-Marktperspektiven-2025-10-AA-en.png\" alt=\"\" width=\"500\" height=\"492\" srcset=\"https:\/\/belvedere-am.com\/wp-content\/uploads\/Belvedere-Marktperspektiven-2025-10-AA-en.png 826w, https:\/\/belvedere-am.com\/wp-content\/uploads\/Belvedere-Marktperspektiven-2025-10-AA-en-768x755.png 768w\" sizes=\"(max-width: 500px) 100vw, 500px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tactical adjustments: Focus on Emerging Markets Debt<\/p>\n","protected":false},"author":10,"featured_media":3675,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":4,"footnotes":""},"categories":[68],"tags":[117],"class_list":["post-5860","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asset-allocation","tag-asset-allocation"],"_links":{"self":[{"href":"https:\/\/belvedere-am.com\/en\/wp-json\/wp\/v2\/posts\/5860","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/belvedere-am.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/belvedere-am.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/belvedere-am.com\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/belvedere-am.com\/en\/wp-json\/wp\/v2\/comments?post=5860"}],"version-history":[{"count":2,"href":"https:\/\/belvedere-am.com\/en\/wp-json\/wp\/v2\/posts\/5860\/revisions"}],"predecessor-version":[{"id":5864,"href":"https:\/\/belvedere-am.com\/en\/wp-json\/wp\/v2\/posts\/5860\/revisions\/5864"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/belvedere-am.com\/en\/wp-json\/wp\/v2\/media\/3675"}],"wp:attachment":[{"href":"https:\/\/belvedere-am.com\/en\/wp-json\/wp\/v2\/media?parent=5860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/belvedere-am.com\/en\/wp-json\/wp\/v2\/categories?post=5860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/belvedere-am.com\/en\/wp-json\/wp\/v2\/tags?post=5860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}