Here's a brief overview of the topics and charts covered in the latest edition of the Weekly Macro Themes report (the flagship report of our institutional research service). I put this report out weekly late Friday NZ time and aim to cover a good mix of macro/ideas/risk management topics, across a global macro/multi-asset universe.
This week I covered the following topics/ideas:
1. OECD Leading Indicators: The global stimulus driven economic recovery remains in play.
2. US Dollar: Remain bearish US$ medium-term, but keenly watching price as sentiment/positioning has flipped, technicals are deeply oversold, and the DXY trades around some key make-or-break levels.
3. Commodities: Remain medium-term bullish commodities, but wary short-term of the shift in sentiment and technicals (similar, inversely, to the US dollar outlook).
4. Agri Commodities: Agri commodities (esp. grains) are looking interesting as positioning/sentiment have surged, potential supply disruptions (+low capex) come into play, and a shift in the SOI gets underway.
5. GLIF: Although slightly less compelling since the initial rebound, GLIF looks reasonable medium-term.
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About the Weekly Macro Themes report
The "Weekly Macro Themes" is part of 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 market cycle guidebook, global cross asset market monitor, and quarterly strategy pack.
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