QIC: Bonds are expensive and observing good value in Australia

"We continue to view bonds as expensive at current levels owing to our central case that the global economy remains on track to continue its gradual recovery. Within equity markets, our portfolios remain well diversified across developed and emerging markets with a laser-like focus on valuations. We remain positioned for relative weakness in the US, based on valuation signals, against other key markets. At the same time, we are observing good value in developed markets, including in Europe, UK and Australia as well as in emerging markets, particularly in Asia." To read a full market and portfoilio review click the (VIEW LINK)