Answer:
Growth stocks; Long-term bonds
Explanation:
If you believe the economy is about to go into a recession and your portfolio consists of growth stocks, defensive stocks and long-term bonds, you might change your asset allocation by selling Growth stocks and buying Long term bonds.
As in the given case, the economy seems to be in trouble and chances that it may go into recession, then there is a high-risk float in the money market which may reduce the growth of stocks and long term bonds have fixed income, therefore, while allocating assets during the recession, people should sell growth stocks and buy long term bonds.
