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. Something about Savings: The surge in savings/cash deposits (along with a likely post-pandemic relief rebound in confidence) has the potential to fuel a post-pandemic economic boom.
2. TIPS (Inflation Expectations): Remain bullish TIPS given prospective near-term and medium-term inflation surprises and risk-on/reflation sentiment, but reduce conviction as valuations have rebounded.
3. Eurozone Equities: Remain bullish Eurozone equities on the back of cheap relative valuations, positive macro/policy dynamics, and an initial dual breakout in the equities + the FX.
4. Frontier Markets: Remain bullish frontier market equities as an interesting strategic case matches up with strong technicals, reasonable valuations, and expected tailwinds from FM FX.
5. AREITs: Much like their global peers, AREITs have begun to breakout post-vaccine news (and RBA QE news), and while absolute valuations are higher - still enjoy compelling relative valuations.
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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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