Maria is a financial advisor working with a client who is planning for retirement in 20 years. The client has a moderate risk tolerance and is primarily focused on wealth preservation while still seeking some growth potential to combat inflation. Maria has developed a strategic asset allocation strategy for the client's portfolio that considers both the current economic outlook and the client's long-term financial goals.
Given the client's profile, Macroeconomic indicators suggest that interest rates are expected to rise over the next decade, which could lead to an increase in bond yields. Simultaneously, equity markets are projected to experience moderate growth, but with higher volatility due to geopolitical circumstances.
In light of this scenario, which of the following strategic asset allocation adjustments is most appropriate for Maria to recommend to her client?