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Weekly Macro Themes - 12 August 2022

Here's a brief overview of the topics and charts covered in the latest edition of the Weekly Macro Themes report. I send this report out late Friday NZ time and aim to cover a good mix of macro/ideas/risk topics, across a global macro/multi-asset universe.

This week I covered the following topics/ideas:


1. Global Equity Technicals: Despite some improvement in the short-term technicals (notably EM), not looking to chase the rally given longer-term bear market signals and no clearing of macro headwinds. Check out the key charts and signals we are watching...


2. Treasuries: Review of the outlook for bond yields given critical developments in technicals, valuations, sentiment, and macro/risk outlook.


3. Stock/Bond Ratio: A look at the suite of indicators for stocks vs bonds, as well as some thoughts on scenarios and asset allocation implications.


4. Value vs Growth: Remain constructive on value vs growth given still compelling relative value, but wary of technicals...


5. Frontier Markets: Change in view on frontier market equities given valuations, technicals, strategic outlook and FX situation. Get in touch/subscribe for more detail!



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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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