Asset Allocation
Asset Allocation service provides detailed analysis and forecast of the relative prospects for four major asset classes: equities, bonds, commodities and commercial property.
This service provides detailed analysis of the relative prospects for four major asset classes: equities, bonds, commodities and commercial property. It includes projected returns for 19 major indices over different time horizons in both local and common currency. These projected returns are based on our economic and market forecasts and draw heavily on our analysis of historical patterns and fundamental value.
The subscription to this service includes 8-9 emailed publications a month, access to our online research archive and our economists, and the opportunity to attend our conferences, forums and webinars.
- Bold, independent views which frequently challenge conventional wisdom.
- Concise and detailed analysis of the major asset classes.
- Projected returns in local and common currency over different time horizons.
Explore financial markets data
We have launched our brand new interactive Dashboard allowing you to explore all of our forecasts for equities, bonds, currencies and cross-asset total returns.
Our Economists Recommend
Read a sample of our Asset Allocation Outlook
This edition of our Asset Allocation Outlook quarterly report provides extensive forecasts and analysis about how equities, bonds and interest rates will perform
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Experience the value that Capital Economics can deliver. With complimentary 2-week access to our subscription services, you can explore comprehensive economic insight, data and charting tools, and attend live virtual events hosted by our economists.
All Asset Allocation Coverage
Featured Economists
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Jonas Goltermann
Chief Markets Economist
Jonas Goltermann is the Chief Markets Economist at Capital Economics with overall responsibility for our Capital Daily, Global Markets, Asset Allocation and FX Markets services. Jonas joined Capital Economics in 2019 from ING Wholesale Banking, where he worked in the Global Macro Research team. Before that, he worked as an economist at the Bank of England and the UK government’s Department for International Development. He holds degrees from Northwestern University, the University of Edinburgh, and the College of Europe.
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John Higgins
Chief Economic Adviser - Financial Markets
John Higgins is Capital Economics’ Chief Economic Adviser - Financial Markets. Prior to joining the company in 2008, he worked at Stone & McCarthy Research Associates, where he was Senior Economist covering the euro area, and before that at Nomura International plc in London, where he was Head of Economic and Credit Research within the fixed income division. John is a graduate of the University of Exeter.
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Thomas Mathews
Head of Markets, Asia Pacific
Thomas Mathews is Head of Markets, Asia Pacific focusing on bonds and equities as part of our Global Markets Service. Prior to joining Capital Economics in 2020 he worked at the Reserve Bank of Australia, in both financial markets and economics departments. Thomas holds a Master’s degree in economics from the London School of Economics, and undergraduate qualifications in economics, mathematics and philosophy.
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James Reilly
Senior Markets Economist
James is a Senior Economist on our Markets desk, contributing primarily to the Asset Allocation and Capital Daily services. He joined Capital Economics in 2021, having previously worked within the multi-asset division of Schroders. James holds a BSc in Economics from the University of Bath and an MSc in Financial Economics from Birkbeck, University of London.
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Joe Maher
Markets Economist
Joe Maher joined Capital Economics in September 2023 as an Assistant Economist on the graduate training scheme. He currently works as an Economist on our Markets team. He holds a degree in Economics from the University of Warwick.
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Elias Hilmer
Markets Economist
Elias joined Capital Economics in September 2023 as an Assistant Economist on the graduate training scheme. He now works as an Economist on our Markets team. Elias holds a MSc in International Political Economy from the LSE, a MSc in Public Economics from the Free University of Berlin and a BSc in Economics and Social Sciences from the University of Cologne (Germany).
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Megan Fisher
Assistant Economist
Megan joined Capital Economics in September 2025 as an Assistant Economist, as a part of the graduate scheme. She previously spent a year at the company as a placement student during her undergraduate degree. Prior to joining, she completed an internship in Nomura's Global Markets division. Megan holds a degree in Economics from University College London.