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Investment Strategy

Published April 15, 2024 | 10 min read time

Weekly market insights and possible impacts on investors from the Wells Fargo Investment Institute Global Investment Strategy team.

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Alternatives Spotlight: The value of alternative investments

  • Alternative investments continued to gain traction by offering greater diversification benefits and differentiated strategies.
  • New strategies and semi-liquid products have also been developed in recent years to satisfy the needs of high-net-worth investors.

Equities: Target change recap

  • A boost to the U.S. economic outlook and continued easy financial market conditions have led us to re-rate our 2024 U.S. equity market earnings and price targets.
  • For 2025, we look for stronger earnings growth with correspondingly higher price targets, for all global equity asset classes.

Fixed Income: 10-year yields – A look back

  • We are most favorable short-term fixed income as the Federal Reserve (Fed) remains on pause, for now; should long-term interest rates test the upper end of our 2024 year-end target range of 4.25%-4.75% we would encourage income-oriented investors to consider locking in rates in longer maturities.
  • We recently changed our 2024 year-end federal funds rate expectations from three 0.25% rate cuts to two, and initiated our 2025 year-end expectations, which anticipate one additional rate cut.

Real Assets: Gold hitting new all-time highs – Raising targets

  • The price of gold hit an all-time high of $2,353 per troy ounce last week — up now 14% on the year.
  • We are raising our 2024 forecast to $2,300 – $2,400 per troy ounce, and initiating our 2025 target range at $2,400 – $2,500 per troy ounce.

Article written by:

Global Portfolio and Investment Strategist
Investment Strategy Analyst

Head of Global Fixed Income Strategy
Investment Strategy Analyst
Head of Real Asset Strategy