MARKET OUTLOOK
Bottom Line Immutable economic laws have once again limited policy extremes following recent volatility in bond yields. Luminate maintains a strategic bond strategy that adapts to conditions such as the transition from long-term international developed markets government bonds to sectors like mortgage-backed securities, emerging market bonds, and selective credits. Infrastructure presents a robust investment opportunity, supported by long-term demand drivers and attractive valuations. Our recent Q4 trade increased our preference for emerging market companies where we saw the most significant earnings prowess benefitting from tech centric economies and business models. We believe investors can benefit from increasing exposure to this diverse asset class, particularly in the context of a strategic and thoughtful portfolio allocation.
Source: BlackRock Investment Institute, https://www.blackrock.com/us/financial-professionals/literature/market-commentary/weekly- investment-commentary-en-us-20260202-tapping-infrastructures-potential.pdf The opinions expressed are those of Luminate Wealth Management & Insurance Services as of the date stated on this material and are subject to change. There is no guarantee that any forecasts made will come to pass. This material does not constitute investment advice and is not intended as an endorsement of any specific investment or security. Please remember that all investments carry some level of risk, including the potential loss of principal invested. Indexes and/or benchmarks are unmanaged and cannot be invested in directly. Returns represent past performance, are not a guarantee of future performance and are not indicative of any specific investment. Diversification and strategic asset allocation do not assure profit or protect against loss.
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