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Weekly Macro Strategy – Skip The Pause – June 9, 2023
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Weekly Macro Strategy – Skip The Pause – June 9, 2023
· Weekly Macro Strategy ·
The calming in bond markets since late-2022 and expectations of lower DM central bank policy rates down the road are starting to unravel in view of this week’s actions by the RBA and BoC.
U.S. Equities – Energy Equipment & Services Stocks: Time To Start Nibbling – June 5, 2023
· Equities ·
The U.S. energy equipment & services sub-group has lagged the overall equity benchmark year-to-date, along with the broader energy sector.
Asset Allocation Strategy – Mixed Signals = Overweight On Cash – June 2, 2023
Asset Allocation ·
Markets are providing decidedly mixed signals about the economic outlook, highlighting investor uncertainty.
Absolute Return Strategy – Playing The Late Cycle: Leaning Against The Consensus Yet Again – May 18, 2023
Absolute Return · ·
The economic expansion has matured, and the investment cycle is now late.
Webcast – China: Consumers Stay Stingy, For Now – (7min:10sec) – May 17, 2023
Webcasts & Webinars ·
Thrice bitten by the uncertainty of pandemic lockdowns, Chinese consumers are shy.
U.S. Equities – It Gets Tougher From Here – May 16, 2023
· Equities ·
The 6-12 month outlook for the U.S. equity market remains uninspiring.
Webcast – Focused On Selective Opportunities – (11min:46sec) – May 10, 2023
Webcasts & Webinars ·
In this week’s Webcast, global strategist Peter Perkins discusses the outlook for capital markets over the next 6-12 months and MRB’s recommended asset allocation.
Asset Allocation Strategy – Coping With Crosscurrents – May 5, 2023
· Asset Allocation ·
The investment outlook is complicated by fundamental crosscurrents. U.S. recession fears linger, but hard data are consistent with a resilient rather than faltering economy.
U.S. Equities – Tech Stocks: Exceptional Valuations For Unexceptional Earnings – May 3, 2023
· Equities ·
U.S. tech stocks have bounced back strongly this year after enduring a brutal sell-off in 2022.
Weekly Macro Strategy – Recession Angst Persists, But Is Still Premature – April 28, 2023
· Weekly Macro Strategy ·
We remain positioned for risk-on from a tactical perspective. However, the rate-hiking cycle is not on the verge of reversing, in sharp contrast with forward rate expectations.
Weekly Macro Strategy – U.S. Economic Prospects Dim, While The Euro Area And China Improve – April 21, 2023
· Weekly Macro Strategy ·
The calming in government bond markets will allow the choppy risk-on phase to grind ahead.
U.S. Equities – Earnings Outlook: Can Sales Expectations Hold Up? – April 19, 2023
· Equities ·
U.S. corporate earnings will remain in the spotlight in the next few weeks as more companies report first-quarter numbers.
Webcast – Rate-Cut Optimism Is Excessive – (10min:58sec) – April 12, 2023
Webcasts & Webinars ·
In this week’s Webcast, global strategist Peter Perkins discusses the key drivers of capital markets in the year ahead and MRB’s recommended asset allocation.
Asset Allocation Strategy – Don’t Count On A Friendly Fed – April 6, 2023
· Asset Allocation ·
Global equities, G7 government bonds, global corporate bonds and even cryptocurrencies have posted healthy gains over the past month, despite the banking sector panic that erupted beginning with the closing of Silicon Valley Bank on March 9.
China – A “New” China: Growth Without Stimulus, Exports Or Housing – April 6, 2023
· Emerging Markets ·
China’s reopening and economic recovery is finally observable in the hard economic data, rather than only from surveys.
U.S. Equities – Economic Concerns Mount, But Too Early To Go All-In On Defensives – April 5, 2023
· Equities ·
Strains in the banking system have raised concerns about a retrenchment in bank lending, with negative implications for the broader U.S. economy.
U.S. Equities – Changes To The GICS® Structure: What Investors Need To Know – March 22, 2023
· Equities ·
Changes to the Global Industry Classification Standard (GICS®) will be made in the coming months.
Theme – Making Money During China’s Demographic Decline – March 21, 2023
· Emerging Markets · Themes ·
China’s official population count for 2022 was published in January and showed 9.6m births, outweighed by 10.4m deaths.
Webcast – U.S. Bank Stocks: Idiosyncratic Rather Than Systemic Risks – (9min:29sec) – March 14, 2023
Webcasts & Webinars ·
In this week’s Webcast, Salvatore Ruscitti discusses the implications of recent developments in the banking industry and their impact on U.S. bank stocks.
MRB TradeBook – Taking Profits – March 10, 2023
Absolute Return ·
Add to Favorite ReportsMarket volatility has caused us to take profits on three positions this week, these… Continue
U.S. Equities – Bank Stocks: Addressing Three Popular Questions – March 9, 2023
· Equities ·
Rising interest rates bring both opportunities and risks for the banking industry.
China – Surveys Show Recovery, Hard Data Will Follow – March 9, 2023
· Emerging Markets ·
“Soft” data from surveys are showing China’s robust recovery is underway, but the usual seasonal distortions in hard data make it difficult to calibrate the implications for overall economic momentum for the time being.
Webcast – Fed Whipsaw – (11min:07sec) – March 8, 2023
Webcasts & Webinars ·
In this week’s Webcast, global strategist Peter Perkins discusses the outlook for capital markets over the next 6-12 months and MRB’s recommended asset allocation.
Asset Allocation Strategy – Bonds Hold The Whip Hand – March 3, 2023
· Asset Allocation ·
The global economy may be firming, but good economic news is now bad news for bonds, and in turn, risk assets.
MRB TradeBook – New Equity Pair Trade – March 3, 2023
Absolute Return ·
Add to Favorite ReportsLong U.S. Industrials Vs Consumer Discretionary Stocks: U.S. industrials have started to outperform their… Continue
Webinar – Investing In A Drawn-Out Late-Cycle Environment – (71min:13sec) – March 1, 2023
Webcasts & Webinars ·
Today’s MRB Webinar featured Salvatore Ruscitti discussing the outlook for the U.S. equity market and the implications of the late-cycle macro environment for portfolio positioning.
Weekly Macro Strategy – Markets Are Still Betting On 2% Inflation – February 17, 2023
· Weekly Macro Strategy ·
The tactical risk-on phase should persist until DM government bond yields break out on the upside.
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Equities – Global Trade Is Key To The Earnings Outlook – February 16, 2023
· Equities ·
There remains considerable uncertainty about the economic outlook, but we have been and remain more constructive than the consensus…
Webcast – Profiting From Understanding The Cycle – (7min:42sec) – February 14, 2023
Webcasts & Webinars ·
In this Webcast Phillip Colmar focuses on the economic and investment cycles.