MacroResearchBoard
| Independent Investment Strategy
real-estate
U.S. Equities – Real Estate Stocks: A Fed Pause Is Not An All-Clear Signal To Buy – November 21, 2023
· Equities ·
U.S. real estate stocks have taken a beating in recent years. The sector, which is mostly comprised of REITs…
Regional Equities – Options For De-Risking From The Heavyweight U.S. – September 28, 2023
· Equities ·
Regional equity positioning is complicated by the outsized weight of the U.S. in the global equity benchmark…
China – Capital Inflows Resume, Despite Bearish Narratives – August 10, 2023
· Emerging Markets ·
While some investors have started hyperventilating about the disappearance of “housing is for living in, not for speculating” mantra from the Politburo’s policy discourse…
China – Undervalued And Unloved, But Undeniably Growing – July 13, 2023
· Emerging Markets ·
Second-quarter earnings results are about to start rolling in, with the large banks dominating the early phase of the reporting period.
Economy – U.S. Housing: Premature Optimism – March 2, 2023
· Economics & Policy ·
U.S. housing market activity dropped sharply alongside higher mortgage rates last year…
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.
2023 China Outlook – How Much Growth Will Reopening Deliver? – December 8, 2022
· Emerging Markets ·
China’s COVID-zero response to the pandemic combined risky political assumptions, faulty epidemiology, and catastrophic economic consequences…
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”.
China – No Imminent Reprieve – November 3, 2022
· Emerging Markets ·
Betting on an imminent relaxation of the COVID-zero policy may seem rational, given the latter’s economic costs and dubious public health benefit.
Webcast – The Outlook For U.S. Home Prices – (7min:26sec) – September 8, 2022
Webcasts & Webinars ·
In this week’s Webcast, Prajakta Bhide highlights the weak performance of recent U.S. housing indicators and discusses the outlook for home prices for next year.
Economy – U.S. Housing Market: How Much Price Downside Ahead? – August 31, 2022
· Economics & Policy ·
The U.S. housing market has rapidly become the weakest-performing sector of the economy, with higher mortgage rates deterring demand meaningfully in recent months.
U.S. Equities – Our Favorite Charts – August 26, 2022
· Equities ·
Today’s report presents some of our recent “favorite” charts.
Webcast – How Much Help Will Economic Stabilizers Provide? – (11min:53sec) – August 9, 2022
Webcasts & Webinars ·
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.
China – COVID-Zero Implies Continuing Economic Pain – August 4, 2022
· Emerging Markets ·
Prospects for a strong reopening recovery in China are evaporating in the face of the authorities’ obstinate attachment to a COVID-zero policy
China – When Will Reopening Lift Earnings? – July 7, 2022
· Emerging Markets ·
With signs of economic reopening, foreign investors have been piling back into Chinese stocks in recent weeks, having rushed for the exits in prior months during the peak of lockdowns.
Canada – Rising Interest Rates Threaten The Canadian Goose – June 22, 2022
· Economics & Policy ·
Today’s report updates our latest views on the Canadian economy, particularly its interest rate sensitivity.
Webcast – China: How Will Contradictory Policies Net Out? – (7min:47sec) – May 18, 2022
Webcasts & Webinars ·
In this week’s Webcast, Mehran Nakhjavani discusses the outlook for China’s economy and markets.
China – Redistribution, Not Stimulus, Is The Opportunity – September 9, 2021
· Emerging Markets ·
Investors are in danger of misconstruing two current developments in China.
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.
U.S. Equities – What The Bond Market Rout Means For U.S. Equities – March 2, 2021
· Equities ·
U.S. equity prices have been volatile of late due to a rapid rise in bond yields as government fixed-income markets have begun to discount stronger-than-expected economic growth and higher inflation.
Roundtable – U.S. Equity Sectors With Salvatore Ruscitti – January 28, 2021
Webcasts & Webinars ·
In this Roundtable, MRB’s U.S. Equity Strategist, Salvatore Ruscitti, discusses the outlook for the U.S. equity market and highlights our recommended sector positioning.
U.S. Sector Strategy – 2021 Outlook: From Rally To Rotation – December 23, 2020
· Equities ·
The expected widespread rollout of COVID-19 vaccines has boosted the outlook for the global economy.
U.S. Equities – Revisiting Two Ideas – December 8, 2020
· Equities ·
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.
Absolute Return Strategy – The Opportunities Are In The Laggards – September 10, 2020
Absolute Return · ·
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.
U.S. Equities – Follow The Profit Cycle – July 23, 2020
· Equities ·
The uncertainties unleashed by the COVID-19 pandemic pose a significant challenge for investment strategy.
Webcast – Canada: Will The Bubble Finally Burst? – (13min:26sec) – June 2, 2020
Webcasts & Webinars ·
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.
U.S. Equities – Real Estate Stocks: No Longer A Safe Haven – May 21, 2020
· Equities ·
The clouds hanging over the U.S. real estate sector have darkened since the outbreak of the COVID-19 pandemic.