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. Global Equities in Review: The global equity rebound is largely running according to script, and at this point (although some mixed signals) there are no obvious red flags from a medium-term standpoint. 2. Global Value vs Growth: The collapse in value vs growth is very much a global phenomenon. [NEW INDICATORS]
3. Global Sector Perspectives: The picture within the global financials/energy/materials sectors vs technology sector is basically the story of value vs growth stocks; hence that’s where to look for a turnaround. 4. Global Banks: As global banking stocks make new all time relative lows, the absolute and especially the relative value picture looks compelling, but some uncertainties (and puzzle pieces) remain. 5. US Small Caps: US small caps have lagged behind large caps, leaving a bullish valuation/positioning setup that simply requires a macro catalyst to turn (and echoes some of the traits of the previous topics).
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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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