In the short term, international holdings could endure a rough time. Eventually, it may also be an opportunity for US holdings as investors seek safe havens. Treasury bonds, gold, & the US dollar may benefit those seeking higher quality, even though the US economy continues its sluggish recovery.
Future rate hikes from the Fed will likely be delayed until at least 2017. The Bank of England & European Central Bank are committed to supporting their constituents in the meantime, which may mean quantitative easing & maintaining a low interest rate environment for some time (sound familiar?). Contact us to further discuss your portfolio's risk exposure.