While the UK and French elections are grabbing all the market and media attention, the most important issue most investors face is to get their medium- and long-term asset allocation right – which means getting the right side of the underlying cycles that drive market behaviour beyond the noise and excitement of immediate political events. Few market analysts are as well placed to make those judgments as Robin Griffiths, the Head of Multi-Asset Research at ECU, who has been analysing the ups and downs of financial market cycles in the City for no fewer than five decades. In this wide-ranging podcast, the latest in the Money Makers series, editor Jonathan Davis asked him for his views on how each of the major asset classes are likely to develop from here, starting with the bond market – the key to everything else.