Here's an overview of the topics and charts covered in the latest edition of the Weekly Macro Themes report. To receive a copy just click through to contact us or request a trial.
This week we covered the following topics/ideas:
1. Global Equities Damage Assessment: The panic selling of global equities has been deep and widespread, previous bull market signals have been flipped, leaving the MSCI ACWI at a key support level.
2. Risks: There are a few areas in the markets where the shifts over the past couple of weeks could spiral/spillover further e.g. credit, emerging markets, and commodities.
3. Opportunities: Global equity valuations have moved to extremely cheap levels, and sentiment has flipped from bullish to bearish; this makes for a bullish medium-term outlook.
4. Oil Macro: The crash in oil will have mixed, but likely net-positive impacts on growth. The likely drop in capex will boost the medium-term outlook for crude oil prices as supply growth softens.
5. Rebound2020 - Cancelled or Postponed? The 2020 global growth rebound thesis has been postponed, but will now feature more stimulus, positive base effects, and some element of pent-up demand.
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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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