Saxo Bank Asset Allocation still 'Outright bullish' on global strengthening [HEAT]

Our Asset Allocation Model is maintaining an “Outright Bullish” stance and according to our Global Business Cycle Indicator, economic activity is still strengthening, but the second derivative seems to have turned around, so the improvement is petering out. The model still recommends an overall big position in equities and an even larger exposure to commodities.