Practical Applications Summary
In Should the Interest Rate Level Influence Asset Allocation?, published in the Summer 2018 issue of the Journal of Investing, authors Gerald Garvey of BlackRock and Konark Saxena of University of New South Wales demonstrate that interest rate levels are a relevant consideration from an asset allocation perspective. Excess returns on stocks versus the risk-free rate are higher in a low-rate environment, even as the level of risk for investing in equities during such a period is actually lower.
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Practical Applications of Should the Interest Rate Level Influence Asset Allocation?
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