Barclays' Hobbs: Not Time to Take Equity Risk on 'Meek' Earnings Story

The video discusses the current state of the U.S. equity market, highlighting that the market closed above 3000. It advises caution in taking big equity risks due to a weak earnings story, despite potential support from the Fed's interest rate cuts. The speaker explains their portfolio strategy, which involves reducing equity risk and maintaining a slight long position in U.S. and global equities. The overall market outlook is cautious, with a focus on valuation and interest rate impacts.

What has the speaker done with their equity risk in the tactical portfolio over the year?

• Reduced it using market strength

• Eliminated it completely

• Increased it significantly

• Kept it unchanged

What is the speaker's current position in U.S. equities?

• Slight short position

• Neutral position

• Significant long position

• Slight long position

Why does the speaker advise against taking big equity risks?

• Weak earnings stories

• High market volatility

• Strong economic growth

• High inflation rates

What does the speaker mention about the Federal Reserve's actions?

• Cutting interest rates

• Increasing interest rates

• Introducing new regulations

• Maintaining current interest rates

What is the speaker's concern regarding the valuation story?

• The rise in commodity prices

• How much more to chase the opportunity

• The impact of inflation

• The stability of the dollar