Market Cycle Guidebook - May 2021

We just published our "Market Cycle Guidebook" for May, which is part of our institutional investment research service.

​​The monthly Market Cycle Guidebook is designed to be a key resource 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 macro/market cycle progresses...

-The key themes of 2020 continue to echo into 2021 (and beyond)

--massive stimulus is already baked-in

--vaccination and reopening are in play (albeit variable)

--anticipate a continuation of the clear but fragile global economic recovery

--backlogs/shortages have become worse

---inflation pressures are intensifying and spare capacity is evaporating

-Anticipate that this year will reward those who take a more nuanced approach to active asset allocation as many market rotations are just getting started

--indeed, May provided a tantalizing glimpse of this

-Remain overweight growth assets vs defensive assets

--longer cycle is still in play; favoring growth assets

--but increasingly focused on short-term risk signals

--paying closer attention to old reliable signposts for the macro/market cycle

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, 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.

Best regards,

Callum Thomas

Head of Research and Founder

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