Weekly Macro Themes - 29 July 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 Policy Pulse: global monetary policy tightening progresses with no prospect of a pause or pivot at this stage, and hence ongoing headwinds to growth and global equities.
2. When EM? We take a look at the question "when is it time to buy EM equities?" reviewing the situation across valuations and sentiment - where there have been some big moves, but also on the macro/policy side, risk indicators, and technicals.
3. EM Bonds: Promising signs across absolute valuations, relative value, sentiment, intermarket indicators, technical indicators, along with macro and a glance across the EMFX basket to help with the currency (hard dollar vs local) question...
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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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