Quant Strategy Model Portfolio - May update - Macro stacked against May selloff

Quant Strategy Model Portfolio - May update - Macro stacked against May selloff. We maintain our call from May 2013 that the market will experience a two year bull market to 6500 (S&P 300) based on a US and China led global recovery. We turned positive in the short term on May 22nd with China data beating expectations, while US data continues to point towards sustainable recovery. Yield thematic expected to continue into 2015 with Budget uncertainties driving down local cyclicals, subdued global growth outlook and Central banks maintaining low rates for longer. (VIEW LINK)