Weekly Macro Themes - 19 November 2021
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. OECD Leading Indicators: World OECD leading indicators have been weakening (losing momentum), we look at the possible impact on global equities.
2. Global Equity Risk: A review of some key macro and technical risk indicators for global equities as the cycle progresses.
3. Global Shipping: A look at shipping rates, shipping sector equities risk vs return setup, and outlook for shipping capex.
4. China Property: We update on the indicators and outlook for the property market in China and the implications for the macro view and prospective impact on industrial metal prices.
5. Carbon: Interest in carbon trading is surging along with surging prices. The waves of speculation across markets triggered in 2020 and the rise of ESG investing has driven substantial flows into the asset class.
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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.
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