Weekly Macro Strategy – Early Cycle, Or Late Cycle? – July 30, 2021


multi-asset

 

Weekly Macro Strategy – Early Cycle, Or Late Cycle? – July 30, 2021
Weekly Macro Strategy · 

Global risk asset markets remain well supported by the economic and policy backdrop.



 

Weekly Macro Strategy – A Transitory Recovery? – July 23, 2021
 · Weekly Macro Strategy · 

Our investment stance remains mildly pro-growth on a 6-12 month horizon.



 

Momentum – MRB Cyclical Momentum Indicator: Gauging Technical Conditions – July 21, 2021
Absolute Return ·  · Asset Allocation · 

The MRB Cyclical Momentum Indicator (MRB CMI) helps investors understand which markets have the biggest technical downside risk as well as upside potential ahead.



 

Weekly Macro Strategy – Too Much Stimulus Breeds Complacency – July 16, 2021
 · Weekly Macro Strategy · 

The recent easing in bond yields will keep risk asset markets well supported. Investors (and central banks) are looking through the current period of strong growth and higher inflation, but are likely to be surprised at the underlying resilience of both.



 

Weekly Macro Strategy – Be Careful Extrapolating Last Decade’s Trends – July 9, 2021
 · Weekly Macro Strategy · 

We remain mildly pro-growth in terms of investment positioning. However, using the 2010s’ playbook for investing this decade will not pan out well.



 

Webinar – Long-Term Returns: A Challenging Road Ahead – (78min:38sec) – June 30, 2021
Webcasts, Webinars & Roundtables · 

Today’s Webinar features MRB’s Global Asset Allocation Strategist, Peter Perkins, discussing MRB’s long term returns framework.



 

Long-Term Returns – A Challenging Road Ahead – June 22, 2021
Absolute Return ·  · Asset Allocation · 

The poor starting point for equity, bond, credit, and commodity valuations points to subpar returns on balanced portfolios over the next decade, even as the global economy expands at a reasonable pace.



 

Weekly Macro Strategy – Strong Global Growth, But No Inflation? – June 18, 2021
 · Weekly Macro Strategy · 

The global economic recovery is accelerating. Although China’s growth rate has now moderated, the U.S. is likely to continue to boom and Europe is set to catch up.



 

Absolute Return Strategy – Six Best Inflation Bets – June 15, 2021
Absolute Return · 

The outlook for U.S. and global consumer price inflation has become a hotly debated topic in recent months and now central to investment strategy.



 

Weekly Macro Strategy – Key Gaps Are Closing/Widening – June 11, 2021
 · Weekly Macro Strategy · 

While uber-dovish monetary policies will remain supportive of risk asset markets, the widening gaps between nominal GDP growth and core inflation versus policy rates are unsustainable.



 

Webcast – The Drivers Of Inflation Provide A Warning – (9min:49sec) – June 9, 2021
Webcasts, Webinars & Roundtables · 

In this week’s Webcast, Phillip Colmar Phillip Colmar examines the forces that will drive consumer price inflation over the course of this cycle.



 

Theme – An Inflation Problem Is Brewing – June 3, 2021
 · Themes · 

The Fed and other major central banks are determined to lag well behind any upturn in consumer price inflation, and fixed-income investors are reluctant to revise up their depressed longer-term views on economic growth and inflation.



 

Weekly Macro Strategy – From Virtuous To Vicious – May 14, 2021
 · Weekly Macro Strategy · 

The brightening economic outlook means that inflation pressures will steadily build and bond yields will move higher in waves.



 

Webinar – MRB’s Big Picture Themes – (73min:46sec) – May 12, 2020
Webcasts, Webinars & Roundtables · 

In this week’s Webcast, Phillip Colmar and Warren Smith, examined the major macro and investment trends that will be key to generating outsized portfolio returns over the next several years.



 

Webcast – Key Portfolio Tilts For Outsized Returns – (8min:45sec) – April 28, 2021
Webcasts, Webinars & Roundtables · 

In this week’s Webcast, Phillip Colmar outlines four longer-term global investment trends that will be key to generating outsized portfolio returns over the next several years.



 

Absolute Return Strategy – Playing Major Global Trends – April 22, 2021
Absolute Return ·  · 

The global reflation trade has cooled of late, after becoming technically stretched in recent months.



 

Theme – MRB’s Overview Of Key Macro Themes (Part II) – February 18, 2021
 · Themes · 

This is Part II of an update of the big-picture themes that form the foundation for MRB’s longer-term investment strategy.



 

Weekly Macro Strategy – It’s Different This Time – February 12, 2021
 · Weekly Macro Strategy · 

A synchronized global economic recovery will gradually develop this year and coincide with a weaker U.S. dollar, and warrant a broader rotation away from the U.S. market within a global equity portfolio.



 

Webcast – Running Hot- (11min:06sec) – February 10, 2021
Webcasts, Webinars & Roundtables · 

In this week’s Webcast, MRB strategist Peter Perkins discusses the capital markets outlook for the next 6-12 months and MRB’s recommended positioning within a global multi-asset portfolio.



 

Asset Allocation Strategy – The Best Of All Possible Worlds Is Priced – February 5, 2021
 · Asset Allocation · 

The tension between a pro-growth macro and policy outlook and overheated risk assets continues to intensify.



 

Weekly Macro Strategy – Free Money Forever – January 29, 2021
 · Weekly Macro Strategy · 

Equity market risks have recently eased on the fundamental side, as Treasury yields have calmed, but worsened on the technical side, as speculative froth has erupted. A pause in augmenting favored positions is still warranted.



 

Webcast – Froth And Fundamentals – (10min:36sec) – January 13, 2021
Webcasts, Webinars & Roundtables · 

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.



 

Absolute Return Strategy – Positioning For 2021 – December 16, 2020
Absolute Return ·  · 

The COVID-19 pandemic took global policy and the economy hostage in 2020.



 

Webcast – Outlook 2021: Guarding Against Exuberance – (12min:27sec) – December 10, 2020
Webcasts, Webinars & Roundtables · 

In this week’s Webcast, MRB strategist Peter Perkins discusses the 2021 outlook for multi-asset investing and appropriate positioning.



 

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.



 

Webcast – Top 5 Client Requests Of The Month – (12min:59sec) – December 1, 2020
Webcasts, Webinars & Roundtables · 

MRB assists clients with on-demand questions which cover a wide range of issues and asset markets.



 

Webinar – The Great Equity & Currency Rotation – (89min:16sec) – November 18, 2020
Webcasts, Webinars & Roundtables · 

In this week’s special MRB Webinar, Phillip Colmar and Mehran Nakhjavani address the question of asset rotation and answer questions from clients.



 

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.