Emerging Market Equities – Waiting For The China Bounce – November 23, 2021


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equities

 

Emerging Market Equities – Waiting For The China Bounce – November 23, 2021
 · Emerging Markets · Equities · 

This year’s powerful revival in global trade and overall demand usually would have been associated with strong EM stock performance



 

Weekly Macro Strategy – Higher Nominal, But Lower Real Yields – November 19, 2021
 · Weekly Macro Strategy · 

The rise in underlying inflation in the major developed economies is broadening and will persist even after temporary supply-induced price hikes unwind. Emergency monetary conditions are not warranted.



 

Long-Term Returns – Payback Looms – November 18, 2021
Absolute Return ·  · Asset Allocation · 

The investment climate promises to be much more challenging over the next 10 years than in recent decades.



 

Asset Allocation – The Fate Of The 60/40 Portfolio – November 18, 2021
Asset Allocation · 

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Roundtable – Round-Tripping From EM ex-China Back To China – (65min:05sec) – November 17, 2021
Webcasts, Webinars & Roundtables · 

In this Roundtable MRB’s emerging markets team, Mehran Nakhjavani and Amr Abdel Khalek, discussed the outlook for EM assets



 

Weekly Macro Strategy – A Slippery Slope – November 12, 2021
 · Weekly Macro Strategy · 

We remain moderately pro-growth in our investment positioning.



 

Absolute Return Strategy – When The Unprecedented Liquidity Boom Fades – November 11, 2021
Absolute Return ·  · 

Central banks have suppressed interest rates (and bond yields) and created an environment where there is no alternative but to buy risk assets



 

U.S. Equities – Will Rising Bond Yields Pummel Tech Stocks? – November 9, 2021
 · Equities · 

U.S. technology stocks and growth equities more generally have been enormous beneficiaries of financial repression and the low interest rate environment that has prevailed since the Great Financial Crisis.



 

Asset Allocation Strategy – The Threat Of A Gradual Monetary Accommodation Unwind – November 5, 2021
 · Asset Allocation · 

A gradual unwinding of monetary accommodation poses little threat to the global economic recovery but could prove more disruptive for capital markets



 

China – The Rattle Of Regulatory Change Continues – November 4, 2021
 · Emerging Markets · 

2021 has been the year of regulatory change in China, starting with a forced deleveraging in the real estate sector, followed by a crackdown on very large internet-related stocks aimed at limiting monopolistic behavior, improving labor rights and protecting data privacy.



 

Weekly Macro Strategy – Monetary Tightening: “Short & Abort”? – October 29, 2021
 · Weekly Macro Strategy · 

The shift from hyper-accommodative monetary conditions to a restrictive stance will play out over a long period



 

Latam – Narrowing Window Of Opportunity – October 28, 2021
 · Emerging Markets · 

The underwhelming relative performance of Latin American (Latam) financial assets will persist in light of ongoing political/economic policy uncertainty



 

U.S. Equities – Semiconductor & Semi Equipment Stocks: Risks To The Cycle Are Piling Up – October 27, 2021
 · Equities · 

After a huge run in the second half of 2020, the relative performance of U.S. semiconductor stocks has leveled off this year.



 

Weekly Macro Strategy – Bet With, Or Against, The Consensus? – October 22, 2021
 · Weekly Macro Strategy · 

We remain positioned for a moderately higher global stock/bond ratio in the next 6-12 months, with losses in the denominator and positive, but more muted, gains in equities (with greater volatility).



 

Equities – Global Equities: More Bang For The Buck Than Perceived? – October 22, 2021
Equities · 

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Absolute Return Strategy – The End Of “Transitory” – October 21, 2021
Absolute Return ·  · 

The current consensus view among investors and central banks is that the spike in growth and inflation will peter out with the world returning to something better characterized by the secular stagnation narrative.



 

Webinar – Asset Allocation Strategy: Navigating The Crosscurrents – (104min:43sec) – October 20, 2021
Webcasts, Webinars & Roundtables · 

This Webinar featured MRB’s senior research team who outlined the macro-economic and inflation outlook for the coming 6-12 months.



 

Theme – The End Of “Transitory” – October 21, 2021
 · Themes · 

 Add to Favorite ReportsInvestors have focused on peak global growth and the potential downside risks ahead. However,… Continue



 

Japan – An Underdog Story – October 19, 2021
 · Equities · Foreign Exchange · 

After a rocky welcome by the markets, newly-appointed PM Fumio Kishida is starting to enjoy positive public support.



 

U.S. Equities – Household Durable Stocks: Taking Profits – October 18, 2021
 · Equities · 

For much of 2020 and the early part of this year, robust housing market conditions have driven the strong outperformance of the U.S. household durables sub-group.



 

Weekly Macro Strategy – A Bumpier Second Wave – October 15, 2021
 · Weekly Macro Strategy · 

This week’s change in energy policy in China was positive for the economy, and reinforces the upbeat global economic outlook. Moreover, signs that inflation will prove sticky continue to mount.



 

Equities – Global Earnings: Sectors To Watch – October 15, 2021
Equities · 

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Weekly Macro Strategy – A Bout Of Vertigo – October 8, 2021
 · Weekly Macro Strategy · 

Equity prices have moved ahead of improving underlying corporate earnings, leaving stocks overbought at a point when some short-term threats have developed.



 

U.S. Equity Sectors – U.S. Small-Cap Stocks: Another Leg Of Outperformance Ahead – October 8, 2021
Equities · 

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China – Policy Bandwidth Is Being Overwhelmed – October 7, 2021
 · Emerging Markets · 

Chinese policymakers were probably hoping to take their victory lap during last week’s national holidays, after reducing excess leverage and nipping a housing bubble in the bud.



 

Webcast – The Decoupling Of The Policy, Economic & Investment Cycles – (17min:21sec) – October 6, 2021
Webcasts, Webinars & Roundtables · 

In this week’s Webcast, Phillip Colmar discusses how the unprecedented events over the past couple of years have led to an abnormal decoupling of the policy



 

Asset Allocation Strategy – Moderating From Boom To Still Solid – October 1, 2021
 · Asset Allocation · 

Global growth and inflation will both downshift over the next few months before stabilizing at faster rates than most investors expect.



 

U.S. Equities – Bank Stocks: Proving Their Resilience – September 30, 2021
 · Equities · 

U.S. bank stocks are enjoying a banner year of outperformance.



 

Webcast – Take Some Profits In EM ex-China – (7min:40sec) – September 29, 2021
Webcasts, Webinars & Roundtables · 

In this week’s Webcast, Mehran Nakhjavani highlights some of the key takeaways from last week’s MRB Emerging Market Equities Report



 

Absolute Return Strategy – Early, Mid or Late Cycle? – September 28, 2021
Absolute Return ·  · 

The extraordinary events over the past couple of years have left many investors struggling to sort out the economic and policy crosscurrents and determine if we are now early, midway, or late in the cycle.