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 PMI & Policy Pulse: We check in on a number of key themes, looking at Fed rate-hike catch-up, global inflation trends, global growth pulse, the global pivot to policy tightening, and the China PMIs.
2. Gold: Gold bulls face a key test in the form of bearish sentiment/technicals, rising real yields, strong dollar, and an unfriendly Fed. We explore a number of critical charts, as well as the outlook for gold miners.
3. Defensive Value: Remain bullish on what we term "defensive value" as the original value/sentiment/positioning case still stacks up, and recent performance affirms the defensive attributes of the sectors.
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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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