Capital Market Expectations Adjustment

In a recent report, the Global Capital Market Committee outlined their capital market expectations for the next five years, particularly focusing on expected returns from various asset classes including equities, fixed income, and real assets. The committee noted an anticipated slowdown in global economic growth due to tightening monetary policies and geopolitical tensions. They projected an increase in interest rates, which could affect the bond market negatively while equities might experience modest growth due to improved corporate earnings. As a portfolio manager, how should you adjust your capital market assumptions based on these insights?