U.S. Equities – Long-Term Tailwinds Will Fade – January 20, 2020
· Equities ·
Several of the tailwinds that powered equities during the last economic expansion and over the past four decades are set to fade in the years ahead.
Weekly Macro Strategy – Extrapolating Can Be Dangerous – January 15, 2021
· Weekly Macro Strategy ·
The recent stall in U.S. employment trends underscores the need for rapid vaccinations to clear the path to a self-reinforcing global economic expansion.
Webcast – Froth And Fundamentals – (10min:36sec) – January 13, 2021
Webcasts ·
In this week’s Webcast, MRB strategist Peter Perkins discusses the outlook for capital markets and highlights MRB’s current recommended positioning for multi-asset portfolios.
Absolute Return Strategy – Selectivity After The Runup – January 12, 2021
Absolute Return ·
This report focuses on positioning around the potential for some near-term turbulence in global equity markets following the recent sharp upleg.
Asset Allocation Strategy – The Inevitable Test Of Investor Nerves – January 8, 2021
· Asset Allocation ·
Risk assets are already discounting a very favorable multi-year macro outlook and are expensive based on historical metrics.
China – Climbing The Wall Of Worry – January 6, 2021
· Emerging Markets ·
China continues to experience strong economic momentum, despite a stutter in December’s PMI surveys (which nevertheless remain firmly in expansionary territory).
U.S. Sector Strategy – 2021 Outlook: From Rally To Rotation – December 23, 2020
· Equities ·
The expected widespread rollout of COVID-19 vaccines has boosted the outlook for the global economy.
Regional Equities – Outlook 2021: Piecemeal Rotation – December 22, 2020
· Equities ·
The improving economic outlook is positive for equites overall, although it is already well-discounted in share prices (most notably in the U.S.).
Weekly Macro Strategy – Play The Cycle, Not The Countertrend Moves – December 18, 2020
Weekly Macro Strategy ·
Near-run economic disappointments in the U.S. and Europe could trip up equity markets and trigger a bounce in the U.S. dollar.
Equities – U.K.: Any Brexit Deal Will Help – December 18, 2020
Equities ·
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Absolute Return Strategy – Positioning For 2021 – December 16, 2020
Absolute Return · ·
The COVID-19 pandemic took global policy and the economy hostage in 2020.
Weekly Macro Strategy – A High-Wire Act – December 11, 2020
· Weekly Macro Strategy ·
We remain mildly pro-growth in terms of our investment strategy, favoring a gradual rotation in holdings out of the U.S. (currency and equities).
Equities – Global Equities: Excessive Long-Term Earnings Optimism – December 11, 2020
Equities ·
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Webcast – Outlook 2021: Guarding Against Exuberance – (12min:27sec) – December 10, 2020
Webcasts ·
In this week’s Webcast, MRB strategist Peter Perkins discusses the 2021 outlook for multi-asset investing and appropriate positioning.
U.S. Equities – Revisiting Two Ideas – December 8, 2020
· Equities ·
Our strategy this year has been to take a barbell approach to positioning U.S. equity portfolios, with selective bets on cyclicals and defensives/growth equities.
Asset Allocation Strategy – Outlook 2021: Rotation Or Bust – December 4, 2020
· Asset Allocation ·
Speculative fever has taken hold, with equities, credit, industrial metals prices and cryptocurrencies surging in the past month on optimism about the economic outlook following positive news on COVID-19 vaccines.
China – What Could Interrupt China’s Rebound in 2021? – December 3, 2020
· Emerging Markets ·
Chinese economic momentum is by far the strongest in the world, which supports strong global appetite for Chinese financial assets.
Webcast – Top 5 Client Requests Of The Month – (12min:59sec) – December 1, 2020
Webcasts ·
MRB assists clients with on-demand questions which cover a wide range of issues and asset markets.
Weekly Macro Strategy – Getting Overheated – November 27, 2020
· Weekly Macro Strategy ·
The global economy is not yet in a synchronized and durable expansion.
Equity Sectors – U.S. Industrials: Earnings Optimism Is Unlikely To Be Validated – November 27, 2020
Equities ·
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Equities – Sustained Global Trade Is The Key To Unlocking Euro Area Earnings – November 27, 2020
Equities ·
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Equities – Global Equities: The Great Rotation (Part 1) – November 27, 2020
Equities ·
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Webcast – Is It Time For Financial Stocks? – (11min:28sec) – November 25, 2020
Webcasts ·
In this week’s Webcast, Peter Perkins discusses the outlook for global financial stocks following the release of the MRB Research Highlight:
“Global Financial Stocks: Look For U.S. And EM Leadership” on November 18, 2020.
Weekly Macro Strategy – Worse Now, Better Later – November 20, 2020
· Weekly Macro Strategy ·
We are constructive on a 1-2 year horizon based on positive medical developments and reduced odds of a disruptive U.S. political backdrop in 2021.
Webinar – The Great Equity & Currency Rotation – (89min:16sec) – November 18, 2020
Webcasts ·
In this week’s special MRB Webinar, Phillip Colmar and Mehran Nakhjavani address the question of asset rotation and answer questions from clients.
Global Equities – Global Financial Stocks: Look For U.S. And EM Leadership – November 18, 2020
· Emerging Markets · Equities ·
Global financial stocks have enjoyed a solid bounce in recent weeks, breaking out of a trading range that had prevailed from June through October.
U.S. Equities – Election Post-Mortem: The Implications For U.S. Equity Sectors – November 17, 2020
· Equities ·
The U.S. election will not be certified by the Electoral College until mid-December, but Joe Biden is almost certain to be the next president.
Weekly Macro Strategy – Moving Another Notch – November 13, 2020
· Weekly Macro Strategy ·
The pandemic is slowing the rebound in economic activity outside of Asia. However, the 6-12 month outlook has improved because U.S. political uncertainty has diminished and there are higher odds of successful COVID-19 remedies.
Absolute Return Strategy – The Ebb And Flow Of Uncertainty – November 12, 2020
Absolute Return · ·
There has been a clash all year between the countervailing forces of the sudden-stop recession and unprecedented policy reflation.
Emerging Market Equities – 2021 Outlook: EM Growth Sizzles, Can Earnings Pop? – November 11, 2020
· Emerging Markets · Equities ·
The outlook for EM equities in 2021 hinges on their relative earnings outlook, which in turn will be determined by the prospects for a broad-based and reasonably synchronized global economic recovery.