Weekly Macro Themes - 3 June 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 Monetary Policy Pulse: Globally central banks are stepping up the pace of tightening, with no signs of letting up; this is why we need to err on the side of caution/bearishness (equities) for now.
2. Leading Edge of the Cycle: Given multiple and consistent signals across the world, a near-term global recession seems a near certainty at this stage. Check out the more than a dozen of our charts that lay out the case.
3. EM Sovereign: Reviewing the outlook for emerging market government bonds, looking at valuations, sentiment, fundamentals, and the EMFX aspect to reiterate our views on EM debt in hard dollar and local currency terms.
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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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