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 management topics, across a global macro/multi-asset universe.
This week I covered the following topics/ideas:
1. Global PMI Pulse: Using the May round of timely data, we take stock of inflationary pressures, the pace and breadth of the recovery, and implications for fixed income.
2. Global Tax Watch: Some very interesting charts showing the longer term trend in effective tax rates for global equities, and where to next.
3. Crude Oil: We look at the tactical setup in crude as the oil price breaks out, we also look at the longer term supply & demand dynamics. Must see charts for oil watchers!
4. Energy Stocks: Reviewing our recommendation on US energy stocks given how things have moved and the oil price outlook. Also touch on MLPs and oil vs gold ratio.
5. NZ Equities: Close to home (we're based in New Zealand) we outline some of the similarities NZ equities share with US equities.
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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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