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 send 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. Policy Watch – China/EM: Globally the monetary policy outlook has shifted to neutral: for China and emerging markets it’s increasingly shifting towards the hawkish side.
2. Gold: Short-term there are a number of tactical bullish signals lighting up for gold, albeit the medium/longer-term outlook remains skewed to the downside as macro headwinds loom.
3. US Small Caps: Though the bull case has diminished, there is still some case to be made for small caps given a positive ERP, longer term cycles, and the greater exposure of small caps to cyclicals.
4. Frontier Markets: Maintain bullish medium-term view on technicals, cycle, strategic case.
5. Japan Equities: Global investors seem to be underestimating the potential in Japanese equities.
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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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