Weekly Macro Themes - 17 June 2022
- Callum Thomas
- Jun 18, 2022
- 2 min read
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. Tech Wreck Check: The growth/TMT/”techy sector” excess-unwind remains a work in progress; we present an initial set of charts/indicators/conditions to help navigate through the tech bear market.
2. Global Equity Technicals: Our breadth indicators continue to present a picture of bearish momentum across countries, though we do note a couple of causes for optimism in the immediate term (which are standout charts amongst a sea of bearishness).
3. Monetary Markets: Documenting and charting how the ongoing global policy pivot to monetary tightening plays into the outlook for global equities.
4. China aye shares: Taking a closer look at Chinese equities (A-shares and MSCI China) as technicals turn up, valuations look cheap, policy trends supportive, and sentiment/macro dynamics align. Definitely a set of charts worth noting if you are interested in those markets.
5. NZ Equities: A deep dive into the risks, drivers, valuations, and background context to help understand the outlook for the New Zealand share market.
This is a preview of the main weekly report from our core institutional research service. To request more information about our research services for your firm, simply fill in the form here. (n.b. the full service is aimed at fund managers, advisers, and institutional investors)
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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The discussion around global monetary tightening and bearish equity momentum is really insightful. I especially found the comparison between global equity technicals and the improving outlook for China A-shares interesting. For finance and economics students, understanding these macro trends can be quite demanding alongside regular coursework and deadlines. Resources like this make complex market developments much easier to follow. When academic schedules get especially hectic, some students may even search for services to Take My Online Exam so they can manage their study workload more effectively. Great analysis overall!
This is a fantastic, chart-driven preview, Callum. Your breakdown of the 'Tech Wreck Check' and the global policy pivot toward monetary tightening really captures the sheer volatility investors were navigating in mid-2022. Trying to digest these complex macro shifts—like the contrasting bullish technicals in China A-shares versus the broader global bearish momentum—is challenging enough for seasoned professionals, let alone students trying to learn the ropes.
In fact, the sheer volume of data you have to synthesize to understand asset allocation right now is exactly why so many finance and economics students end up feeling completely overwhelmed. When you are expected to write deep-dive papers on cross-asset market cycles while simultaneously trying to keep up with live, fast-moving markets, something usually…
Interesting overview of the key macro themes shaping global markets. The focus on technical indicators, policy shifts, and regional equity opportunities makes this a valuable summary for investors following market trends. For businesses expanding into international markets, NAATI Translation services can also play an important role by ensuring financial documents and investment materials are accurately translated for multilingual audiences.
Callum Thomas’s latest macro wrap-up highlights a crucial reality: the "Tech Wreck Check" shows that the growth/TMT excess-unwind is still a major work in progress, especially as global monetary tightening squeezes valuations.
For asset managers looking to navigate this bear market, the focus has drastically shifted from "growth at all costs" to companies with rock-solid, real-world utility and defensive moats. A great example of a resilient subsector within tech right now is healthcare AI and digital diagnostics.
As healthcare systems globally look to cut costs and automate, demand for high-quality Medical Annotation Services is skyrocketing. Companies providing these specialized, human-in-the-loop data labeling services are becoming foundational infrastructure for the next generation of FDA-compliant medical AI. While broader consumer tech faces a…
Great wrap-up of the macro environment. The "Tech Wreck Check" section is incredibly timely—watching the growth and TMT sector unwind has been wild to track.
Trying to digest these massive global monetary tightening pivots while balancing a heavy workload is no joke. Honestly, analyzing the technicals on China A-shares is way more interesting than balance sheets right now. It almost makes me want to pay someone to take my online science class just so I can free up time to focus on macro strategy and chart-driven research full-time! Appreciate the preview, Callum.