State Street Investment Management strategists (Bartolini, Hentov, Kassam, Preston) update their framework for navigating heightened geopolitical risk under Trump’s second term.
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Gold remains core: up ~50% since 2024, supported by central bank demand, it continues to provide reliable protection in crisis scenarios.
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Defensive equities like utilities and consumer staples show resilience during tariff-driven drawdowns, though they underperform in rallies.
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Derivatives offer targeted hedges: renting equities via long call structures, buying sovereign/corporate CDS, and utilizing payer swap options to position for U.S. yield curve steepening.
Which mix of safe havens and derivatives can best anchor portfolios in today’s fragmented world? Explore the full report for tactical implementation insights.
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