Weekly Macro Themes - 7 Aug 2020
Here's an 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)
This week we covered the following topics/ideas:
1. Global Bank Lending Surveys: Global lending standards have disconnected from several macro/market metrics.
2. EM Equities: While there are some short-term risks/tests to face for EM equities, the medium-term bullish case remains sound (policy support, sentiment, valuation).
3. EM vs DM: EM offers superior value and medium/longer-term prospects relative to DM (but it’s worth noting the differences in comparing against DM ex-US as opposed to vs USA).
4. EM ex-Asia (vs EM Asia): EM ex-Asia has been left behind by EM Asia, and based on historical patterns, relative value, and positioning, has good catch-up prospects over the next year.
5. FM Equities: Frontier market equities boast a superior longer-term expected return, and shorter-term there are a couple of interesting trigger points worth watching.
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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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