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 Leading Indicators and China: If the lead indicators are anything to go by the global growth scare will pass by H2, and at this stage it’s looking like EM will be leading the recovery.
2. USDCNY Risks & Ripples: USDCNY is at risk of testing the key 7.0 barrier, and this puts a number of other markets at risk, with Asian FX, EMFX, and EM equities at the epicenter.
3. EM Equities – Macro/Sentiment: Though not without risks, EM equities look short-term oversold.
4. EM Equities - Valuations: Valuations have improved somewhat, and although the previous high conviction value case has passed, valuations still support a bullish medium term bias.
5. Against the Grain(s): On a number of indicators, grains look to have bottomed.
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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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