2023 Asset Allocation Outlook: Better Valuations, But Another Tough Year – December 2, 2022


multi-asset

 

2023 Asset Allocation Outlook: Better Valuations, But Another Tough Year – December 2, 2022
 · Asset Allocation · 

The key drivers of global capital markets in the first-half of the year ahead will be slow/slowing economic growth…



 

Charts – Monitoring The Weak Links – November 22, 2022
 · Economics & Policy · 

A core area of our research over the past several years has been on what we term global “weak links”.



 

Weekly Macro Strategy – A Soggy U.S. Dollar Helps – November 18, 2022
 · Weekly Macro Strategy · 

The risk-on phase should persist in the near run, with the caveat being that government bond markets stay calm;



 

Long-Term Returns – Setting Realistic Expectations – November 17, 2022
 · Asset Allocation · Equities · 

The long-term outlook for a balanced portfolio has improved following this year’s price declines…



 

Weekly Macro Strategy – A Different Decade – November 11, 2022
 · Weekly Macro Strategy · 

Pause #3 in the cyclical bond yield advance is underway, providing relief for all asset markets.



 

Absolute Return Strategy – Playing The Interest Rate Dominoes – November 10, 2022
Absolute Return ·  · 

Today’s MRB Absolute Return Strategy revisits our theme of toppling dominoes in response to interest rate normalization and provides a series of investment strategy recommendations.



 

Webcast – Possible Year-End Rally, But No Turn In The Investment Cycle – (11min:31sec) – November 9, 2022
Webcasts, Webinars & Roundtables · 

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 – Late Cycle Dynamics – November 4, 2022
 · Asset Allocation · 

The Fed wrong-footed investors this week, with Chair Powell’s hawkish press conference comments overwhelming the more moderate policy statement.



 

Weekly Macro Strategy – Bond Yield Pause #3? – October 28, 2022
 · Weekly Macro Strategy · 

The cyclical rise in global government bond yields is set to pause again, as economic activity is slowing…



 

Weekly Macro Strategy – Lower Global Inflation: Waiting For Godot? – October 21, 2022
 · Weekly Macro Strategy · 

A tactical long opportunity in risk assets is possible in the coming months, assuming inflation starts to ease and the Fed et al turn less hawkish, as we expect.



 

Absolute Return Strategy – What Could Go Right? – October 19, 2022
Absolute Return ·  · 

This has been a tough year for multi-asset portfolios as all developed market central banks scrambled to adjust from being deeply wrongfooted by the global surge in inflation.



 

Theme – What Could Go Right? – October 19, 2022
 · Themes · 

 Add to Favorite ReportsThis has been a tough year for multi-asset portfolios as all developed market central… Continue



 

Weekly Macro Strategy – More Of The Same – October 14, 2022
 · Weekly Macro Strategy · 

The global economic outlook is deteriorating, watch out for various “weak links”.



 

Webcast – Markets On Edge – (10min:10sec) – October 12, 2022
Webcasts, Webinars & Roundtables · 

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 positioning.



 

Brazil – Defying Gravity – October 10, 2022
 · Emerging Markets · 

Brazilian assets rallied after last week’s general election as the worst-case scenario for financial markets, in which former President Lula secures a first-round victory, was avoided. Therefore, the favorable relative growth backdrop which has been driving outperformance will remain intact.



 

Asset Allocation Strategy – Temporary Reprieve – October 7, 2022
 · Asset Allocation · 

Capital markets are in payback mode after the huge prices gains in 2020-2021 as the earlier liquidity boom unwinds.



 

Weekly Macro Strategy – Beware Submerging Economies – September 30, 2022
 · Weekly Macro Strategy · 

The heavily-indebted U.K. economy is one of the global weak links, and is now extremely vulnerable to higher borrowing costs.



 

Asset Allocation Strategy – Lots Of Risks, Limited Rewards – September 9, 2022
 · Asset Allocation · 

The investment climate is likely to remain highly challenging over the balance of this year.



 

Weekly Macro Strategy – Between A Rock And A Hard Place – September 2, 2022
 · Weekly Macro Strategy · 

The Fed will have room to pause its rate-hiking cycle by yearend, as U.S. headline inflation will steadily decelerate and the central bank will eventually want to see how its policy has impacted the economy.



 

Webcast – Recession Vs Growth Scare: How To Position – (11min:05sec) – August 30, 2022
Webcasts, Webinars & Roundtables · 

Recession has become an ugly word among investors since these events are typically associated with a deep fallout in global equity prices



 

Absolute Return Strategy – When To Use The Recession Playbook – August 24, 2022
Absolute Return ·  · 

There is currently no shortage of issues for investors to worry about, as the monetary authorities feel pressure to normalize policy



 

Theme – When To Use The Recession Playbook – August 24, 2022
 · Themes · 

There is currently no shortage of issues for investors to worry about, as the monetary authorities feel pressure to normalize policy



 

Webcast – Why The Consensus Is Repeatedly Wrongfooted – (13min:54sec) – August 10, 2022
Webcasts, Webinars & Roundtables · 

In this week’s Webcast Phillip Colmar addresses a core difference in what is a fundamental building block between MRB’s view and the consensus.



 

Webcast – How Much Help Will Economic Stabilizers Provide? – (11min:53sec) – August 9, 2022
Webcasts, Webinars & Roundtables · 

In this week’s Webcast, global strategist Peter Perkins discusses the key drives of the capital market outlook for the next 6-12 months and MRB’s recommended asset allocation.



 

Asset Allocation Strategy – Self-Correcting Supports Kicking In – August 5, 2022
 · Asset Allocation · 

The global economy faces several challenges, but we reiterate that an economic recession is neither imminent nor inevitable, although growth will likely slow further in the near term.



 

Theme – Differing From The Consensus – July 28, 2022
 · Themes · 

The global economy is currently facing many simultaneous headwinds from higher inflation, monetary “tightening”



 

Absolute Return Strategy – Differing From The Consensus – July 28, 2022
Absolute Return ·  · 

The global economy is currently facing many simultaneous headwinds from higher inflation, monetary “tightening”



 

Theme – Path To Recession: Timing Is Everything – July 21, 2022
 · Themes · 

The consensus has solidified on an expectation of a pending recession in the U.S. and global economy.



 

Weekly Macro Strategy – A Stop-Start Economic World – July 15, 2022
 · Weekly Macro Strategy · 

Recession fears are overstated, as employment conditions and corporate profitability remain in good shape in most developed market (DM) economies.



 

Weekly Macro Strategy – Pessimism Is Overdone – July 8, 2022
 · Weekly Macro Strategy · 

The second pause in the cyclical bond bear market is underway, driven by fears that an open-ended rate-hiking cycle will trigger a recession