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 is the current position of the tactical portfolio regarding equity risk?

How does the speaker feel about taking big equity risks at this time?

What is the speaker's perspective on the earnings story in the current market?

What factors are influencing the valuation story mentioned in the text?

What is the potential impact of the Fed's interest rate cuts on asset support?