Here's an overview of the topics and charts covered in the latest edition of the Weekly Macro Themes report. Also be sure to check out the 2018 End of Year Special Edition to see some of our best calls of last year and charts to watch for the year ahead.
This week we covered the following topics/ideas:
1. Global Equity Breadth: Remain cautiously optimistic on global equities as multiple contrarian signals point to upside, and green shoots emerge in market breadth indicators.
2. EM Equity Outlook Review: Though it is consensus/crowding, stay the course on EM equities as the previous valuation and sentiment signals continue to play through and macro headwinds turn.
3. China something: Though also an increasingly consensus position, continue to expect a more supportive policy mix out of China (yet perhaps not as large as some expect).
4. Aussie Equities: Though there are some mitigating factors, Aussie equities are at risk of a more prolonged/deeper downturn in the housing market.
5. NZ Equities: New Zealand faces the dual risk of overvalued housing and equity markets, and is indirectly likewise exposed to the Australian housing downturn.
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About the Weekly Macro Themes report
The "Weekly Macro Themes" is our institutional offering aimed at multi-asset and macro-driven portfolio managers and strategists. The report takes a chart-driven macro, fundamental and multi-factor approach; a powerful combination of cross-asset idea generation for portfolio managers, charts on key global macro trends, analysis on portfolio risks, asset allocation research, and innovative indicators, in a format that delivers a balance of brevity and depth so that you can efficiently assimilate the insights. Also part of the service is the monthly Chartbook which contains the key charts and views across asset classes with a tactical/dynamic positioning model.
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