The global economy is in good shape. The environment is conducive to taking risks for now, so we'll remain overweight in stocks and underweight in bonds.

Considering the stability of global money markets, we'd like to be equally overweight in Asia and emerging markets, as well as in Japan and the United States.

We're going overweight in the United States, where rates are relatively high and stable ... while we're going underweight in the euro zone and Japan, where rates are relatively low.

We are going overweight in Japanese stocks, which have a strong momentum and solid fundamentals.