Deutsche Bank Wealth Management to equity investors: quit while ahead, move to safety
A bit of an ICYMI, which is probably a good thing given the US equity surge Thursday.
Deutsche Bank Wealth Management
- has cut equities to about 40% of its portfolio from more than 50%
- expects to do that more in theHS 2019
- first turned cautious at the end of April, citing doubtful earnings outlooks,U.S.-China trade war won't be resolved this year
- "We are still in profit-taking mode"
- buying investment-grade corporate debt & DM hard currency bonds
via Bloomberg (more at the link)
An alternative view (saw this referred to yesterday on twitter … )