We just published our July "Market Cycle Guidebook", which is a key part of our institutional investment research service.
The monthly Market Cycle Guidebook is designed to be a practical tactical asset allocation guidebook for global multi-asset investors. It focuses on illuminating the key drivers of risk and return across a global multi-asset universe, with the intention of generating actionable conclusions and meaningful insights for medium-term active asset allocation decisions.
Key features of the Market Cycle Guidebook: -Front page snapshot summary on the global economic cycle, monetary policy, and valuations -Market performance snapshot & commentary /highlights -Summary views across asset classes (short and medium term); basically an "AA cheat sheet"
-TAA/DAA guide visually mapping those views -Monthly updated Capital Market Assumptions -And of course, over 70 charts illuminating the key medium-term drivers of risk and return across a global multi-asset universe
-Australia/New Zealand appendix (since we're down this part of the world!)
Some of the key takeaways from the latest edition:
The next phase of the recovery...
-The beginning of the second half of the year brings a new phase of the recovery
--previous rotations have “un-rotated”
--policy is increasingly pivoting from easing to tightening
--virus resurgences are driving short-term economic divergences
--backlogs continue to bight.
-The second wave of the global economic recovery likely is driven by
--multi-pronged capex/investment boom
--stronger consumer (relief euphoria, cash deployment, asset inflation)
--and likely sees a continuation of the commodity bull market
---those along with tightening capacity skew medium-term inflation risks upwards
-Anticipate that the coming months/quarters/years will reward those who take a more nuanced approach to active asset allocation as macro transitions and market rotations bring risks and opportunities
--July however reminded us that rotations can quickly un-rotate
---Perhaps we need to expect a series of rotations for now vs a major turning point
-Remain overweight growth assets vs defensive assets
--longer cycle is still in play; favoring growth assets
--but increasingly focused on short-term risk signals and cycle map
--paying closer attention to old reliable signposts for the macro/market cycle
--short-term focused on the risk outlook in emerging markets
The report is designed for active asset allocators, and professional investors who require top-down input in their investment process.
If you are interested in learning more about this report and our services, I suggest you get set up for a trial today and we will forward through a copy of the Market Cycle Guidebook and some of our other recent reports.
If you have any questions or requests, just get in contact.
Head of Research and Founder
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About the Service:
Our institutional service caters to multi-asset portfolio managers and investment professionals. The service comprises a set of reports (2 weekly, 1 monthly, 1 quarterly) and personalized service to help make the portfolio managers' job easier. With the service we deliver a flow of investment ideas, risk management input, and meaningful macro insights.
Our Head of Research and founder spent his career on the buy-side, and our reports reflect that perspective with a clear "so what?" focus rather than research for research sake. The reports are punchy and chart/fact focused, and are easy to read both in terms of speed and understanding: so clients often end up saving time and getting better insights. So if you're looking for a dedicated and specialist service to help you deliver excellent returns for your clients, give us a try.
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