Weekly Macro Strategy – Rotation Update – September 18, 2020


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Weekly Macro Strategy – Rotation Update – September 18, 2020
 · Weekly Macro Strategy · 

We remain short-term cautious on equities (and industrial commodities) because the economic recovery is proving underwhelming in many countries and there are a number of potential risks ahead.



 

TradeBook Update – Euro Area Vs U.S. Equities – September 18, 2020
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Absolute Return Strategy – The Opportunities Are In The Laggards – September 10, 2020
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It has been a bumpy ride for investors over the past week as equities abruptly pulled back from overbought levels, before catching a bid yesterday.



 

Absolute Return Strategy – Equity Leaders Vs Everything Else – September 3, 2020
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Market leaders typically have a material influence on overall equity performance, but it has been dramatic this year.



 

Theme – Stylized Investment Cycle: Did Policymakers Avoid A Final Flush? – August 20, 2020
 · Themes · 

MRB Stylized Investment Cycle has been one of our most popular thematic frameworks as it provides a starting point when building a multi-year roadmap, and helps investors look for major inflection points.



 

Webcast – Is The U.S. Set To Lose Equity & Currency Leadership? – (11min:55sec) – July 30, 2020
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In this week’s Webcast, Phillip Colmar explores the potential for a broad-based rotation in relative performance away from U.S. leadership, and provides several investment strategy recommendations.



 

Absolute Return Strategy – Do U.S. Assets Justify Their Premium? – July 28, 2020
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Today’s report explores the potential for a broad-based rotation in relative performance away from U.S. equity and currency leadership.



 

Theme – Do U.S. Assets Justify Their Premium? – July 28, 2020
 · Themes · 

Today’s report explores the potential for a broad-based rotation in relative performance away from U.S. equity and currency leadership.



 

Absolute Return Strategy – Setting Up For Another Shakeout? – June 23, 2020
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The powerful bounce back in global risk assets since late-March has benefited our pro-growth positioning.



 

TradeBook Update – June 12, 2020
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Long-Term Returns – Long-Term Fallout From The COVID-19 Crisis – May 28, 2020
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The post-COVID-19 world poses fresh challenges for investors. While we expect the global economy to rebound in the year ahead, growth in the longer-term will be somewhat slower than was probable prior to the crisis.



 

Webcast – Top 5 Client Requests Of The Month – (10min:37sec) – May 13, 2020
Webcasts · 

In this week’s Webcast, Warren Smith and Santiago Espinosa discuss the top five queries from clients in the past month.



 

Theme – Mania Profiling (Part VI): What Assets Will Be Next? – May 12, 2020
 · Themes · 

This report concludes our series on profiling asset manias. We began this series in late-2019 by outlining MRB’s framework for asset bubbles and compared the current macro backdrop with factors that have traditionally led to manic episodes.



 

Absolute Return Strategy – Catch The Waves: The Next Is Approaching – April 30, 2020
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Investor sentiment has shifted rapidly from being overly optimistic on expectations of an acceleration in global growth conditions in late-January, to pricing in another deep recession by late-March, to now seemingly overly complacent about the likely recovery path ahead.



 

Absolute Return – TradeBook Update – April 17, 2020
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Absolute Return – Profiting From A Defensive Stance – March 13, 2020
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 Add to Favorite Reports We shifted the aggregate MRB TradeBook from a modest pro-growth to a defensive… Continue



 

Theme Report – Fallout From COVID-19: Most Asked Questions – March 12, 2020
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The rapid spread of COVID-19 across the globe has dramatically heightened investor uncertainty and rocked global financial markets.



 

TradeBook Updates – March 6, 2020
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Absolute Return Strategy – Will COVID-19 End The Cycle? – February 27, 2020
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The COVID-19 threat arrived at a point when equity markets had an air pocket after materially rerating over the past year and were overly optimistic about the global growth outlook.



 

TradeBook Update – Booking Profits – February 14, 2020
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Absolute Return Strategy – Trading Manias & Crashes – January 29, 2020
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Global equities stumbled in the last week after surging over the past year.



 

Absolute Return Strategy – MRB TradeBook Track Record: 2019 Review – January 29, 2020
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 Add to Favorite Reports In 2019, we leaned against repeated calls for an imminent recession, which benefited… Continue



 

Absolute Return Strategy – Positioning For 2020 – December 23, 2019
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Today’s report outlines the main macro forces that will influence the investment landscape for 2020 and provides our related investment strategy.



 

Absolute Return – MRB TradeBook Update – November 8, 2019
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Absolute Return Strategy – Trading Ranges Don’t Last – October 24, 2019
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Global equity markets have been rangebound over the past several months, caught between powerful macro and political crosscurrents.



 

Long-Term Returns – Stocks, Not Bonds, For The Long Run – October 24, 2019
 · Asset Allocation · 

Returns from balanced portfolios over the next decade will be middling by historical standards.



 

Theme – A Tradeless Cycle: Unrecognized Causality & Implications – September 13, 2019
 · Economics & Policy · Themes · 

Global trade growth has cooled dramatically over the past decade fueling speculation that global import demand may be structurally impaired.



 

Webcast – Top 5 Client Requests Of The Month (15min:45sec) – September 11, 2019
Webcasts · 

Political risks have been erupting all over the world, creating tremendous market volatility and a steady increase in angst about the financial and economic market outlook



 

Absolute Return Strategy – Fattening The Tails – August 23, 2019
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Our overarching view has been that the bull run in the global stock/bond ratio has matured and is undergoing an extended topping out process that began in early-2018.



 

Weekly Macro Strategy – Nearing A Tipping Point – August 9, 2019
 · Weekly Macro Strategy · 

Protectionism and isolationism have recently risen, implying that the weakness in trade will persist, with increased risks of contagion on the broader economy.