The expected widespread rollout of COVID-19 vaccines has boosted the outlook for the global economy.
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.
Economy – U.S. Housing: Can The Pandemic-Induced Buying Persist? – September 18, 2020
· Economics & Policy ·
U.S. housing demand has risen robustly amid a very weak labor market, elevated economic uncertainty and a still-ongoing pandemic.
It has been a bumpy ride for investors over the past week as equities abruptly pulled back from overbought levels, before catching a bid yesterday.
Absolute Return Strategy – Equity Leaders Vs Everything Else – September 3, 2020
Absolute Return · ·
Market leaders typically have a material influence on overall equity performance, but it has been dramatic this year.
The uncertainties unleashed by the COVID-19 pandemic pose a significant challenge for investment strategy.
In this week’s Webcast, Phillip Colmar provides our latest outlook on the Canadian economy and asset markets, with a focus on the potential for a bursting of the housing and credit bubbles.
Canada – On Thin Ice As It Heats Up – May 27, 2020
Economics & Policy ·
Today’s report updates our outlook on the Canadian economy and related investment strategy in response to the pandemic and related halt in activity.
The clouds hanging over the U.S. real estate sector have darkened since the outbreak of the COVID-19 pandemic.
This report concludes our series on profiling asset manias. We began this series in late-2019 by outlining MRB’s framework for asset bubbles and compared the current macro backdrop with factors that have traditionally led to manic episodes.
U.S. stock prices have recently bounced from their lows. To a large degree, the performance of the equity market going forward will be a function of sentiment towards the 2021 earnings outlook
Absolute Return Strategy – Trading Manias & Crashes – January 29, 2020
Absolute Return · ·
Global equities stumbled in the last week after surging over the past year.
The U.S. equity market has started the year on a choppy note, with geopolitical tensions between the U.S. and Iran whipsawing stocks prices in recent days.
In this week’s Webcast Salvatore Ruscitti discusses the 2020 outlook for the U.S. equity market and how to position portfolios for the year ahead.
Today’s report discusses how to position U.S. equity portfolios for the year ahead.
This MRB Theme Report is the first of a mini-series of reports that update our work on asset manias.
U.S. equity prices have made new highs in the past month, with reduced recession fears and optimism about an easing of U.S./China trade tensions driving the advance
In this week’s Webcast, Peter Perkins assesses the earnings cycle across major markets, its key drivers, and the implications for equity prices.
Third-quarter earnings season kicks off in earnest this week. Our report offers a preview of what to expect and what trends to watch.
Global Equities – An Old, But Not Fully Mature Earnings Cycle – October 15, 2019
· Asset Class Reports · Equities ·
The global earnings upcycle is advanced, but should continue in the sluggish growth environment we anticipate in the year ahead.
The seesawing in trade tensions between the U.S. and China has kept equities on a rollercoaster ride in recent months.
Absolute Return Strategy – Fattening The Tails – August 23, 2019
Absolute Return · ·
Our overarching view has been that the bull run in the global stock/bond ratio has matured and is undergoing an extended topping out process that began in early-2018.
Concerns about disruptive policy changes and headline risk in the lead-up to the 2020 presidential election have pressured the relative performance of the health care sector this year
This is Part II of a two-part annual update of the big-picture themes that form the foundation for MRB’s longer-term investment strategy.
Equities have been jolted in the past week after an abrupt escalation in trade tensions between the U.S. and China.
The first quarter saw cyclical stocks rebound from deeply oversold levels relative to their defensives counterparts.
Phillip Colmar and Santiago Espinosa step back from our tactical investment strategy and focus on several higher-conviction multi-year recommendations that are extracted from our big-picture thematic work.
This report leverages our recent big picture thematic work to provide investors with a longer-term roadmap.
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This report updates our views on U.S. real estate stocks (i.e. REITs).