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 Macro Data Pulse: The activity data/earnings picture remains decidedly soft.
2. GBPUSD: Retain bullish bias on valuation, but drop conviction level.
3. USDJPY: With economic downside risks the USDJPY remains undervalued and a crowded short.
4. MLPs: The drop in oil has further improved the valuation picture for MLPs and energy stocks.
5. AUD & NZD: Both AUDUSD & NZDUSD are looking more and more undervalued, yet policy rate differentials point to downside risks near term.
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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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