Markets have been moving cautiously, and November was no exception. Investors appear to be in a holding pattern, waiting for clearer signals before making major moves. The latest State Street Institutional Investor Indicators shed light on this trend: risk appetite dipped slightly, equity allocations remain solid, cash is steady, and fixed income hasn’t seen the usual safe-haven inflows.

What’s driving this cautious yet steady behaviour? Are investors diversifying globally, or sticking to familiar US tech bets? And what does this mean for markets in Asia and beyond?

On Wealth Tracker, Nadiah Koh speaks with Dwyfor Evans, Head of APAC Macro Strategy at State Street Markets, to find out more.