Emerging Markets Fixed Income – EMLCD Will Outperform, Despite Near-Run Risks – January 14, 2021



Emerging Markets Fixed Income – EMLCD Will Outperform, Despite Near-Run Risks – January 14, 2021
 · Emerging Markets · 

This report focuses primarily on the two issues: the outlook for the EM local currency-denominated debt (EMLCD) asset class, and how investors should approach investment in Chinese government bonds.


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

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.


Absolute Return Strategy – MRB TradeBook Track Record: 2020 Review – January 12, 2021
Absolute Return · 

 Add to Favorite Reports2020 provided a rollercoaster ride in many financial asset markets, as investors were forced… Continue


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.


Webinar – Best Ideas For 2021 – (83min:39sec) – December 23, 2020
Webcasts · 

In this Webinar, MRB’s senior research team provided a series of high-conviction and non-consensus ideas for setting investment strategy in 2021.


Regional Equities – Outlook 2021: Piecemeal Rotation – December 22, 2020
 · Equities · 

The improving economic outlook is positive for equites overall, although it is already well-discounted in share prices (most notably in the U.S.).


Weekly Macro Strategy – Play The Cycle, Not The Countertrend Moves – December 18, 2020
Weekly Macro Strategy · 

Near-run economic disappointments in the U.S. and Europe could trip up equity markets and trigger a bounce in the U.S. dollar.


Global Foreign Exchange – Navigating Currency Markets In 2021 – December 17, 2020
 · Foreign Exchange · 

The U.S. dollar is currently oversold and may be setting up for a bounce, but the cyclical trend remains down and its longer-term appeal is fading.


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

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


Emerging Markets Foreign Exchange – EM Currencies Will Continue To Outperform In 2021 – December 15, 2020
 · Emerging Markets · Foreign Exchange · 

Growth in global trade and domestic demand will be far stronger in 2021 than it was in 2020, with much of the EM universe being the primary beneficiaries of this currency tailwind.


Weekly Macro Strategy – A High-Wire Act – December 11, 2020
 · Weekly Macro Strategy · 

We remain mildly pro-growth in terms of our investment strategy, favoring a gradual rotation in holdings out of the U.S. (currency and equities).


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

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 · 

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


Weekly Macro Strategy – Getting Overheated – November 27, 2020
 · Weekly Macro Strategy · 

The global economy is not yet in a synchronized and durable expansion.


Webcast – Is It Time For Financial Stocks? – (11min:28sec) – November 25, 2020
Webcasts · 

In this week’s Webcast, Peter Perkins discusses the outlook for global financial stocks following the release of the MRB Research Highlight:
“Global Financial Stocks: Look For U.S. And EM Leadership” on November 18, 2020.


Policy – Global Monetary Policy Will Stay Very Accommodative – November 24, 2020
 · Economics & Policy · 

The report is an annual study that compares the relative pressures facing the various central banks in the developed world.


Weekly Macro Strategy – Worse Now, Better Later – November 20, 2020
 · Weekly Macro Strategy · 

We are constructive on a 1-2 year horizon based on positive medical developments and reduced odds of a disruptive U.S. political backdrop in 2021.


Emerging Markets – China’s Corporate Bond Defaults: Now Is The Time – November 20, 2020
Emerging Markets · 

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

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


Global Equities – Global Financial Stocks: Look For U.S. And EM Leadership – November 18, 2020
 · Emerging Markets · Equities · 

Global financial stocks have enjoyed a solid bounce in recent weeks, breaking out of a trading range that had prevailed from June through October.


Weekly Macro Strategy – Moving Another Notch – November 13, 2020
 · Weekly Macro Strategy · 

The pandemic is slowing the rebound in economic activity outside of Asia. However, the 6-12 month outlook has improved because U.S. political uncertainty has diminished and there are higher odds of successful COVID-19 remedies.


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.


Emerging Market Equities – 2021 Outlook: EM Growth Sizzles, Can Earnings Pop? – November 11, 2020
 · Emerging Markets · Equities · 

The outlook for EM equities in 2021 hinges on their relative earnings outlook, which in turn will be determined by the prospects for a broad-based and reasonably synchronized global economic recovery.


Asset Allocation Strategy – A Choppy Path To A Synchronized Economic Recovery – November 6, 2020
 · Asset Allocation · 

Markets have celebrated the mixed outcome of the U.S. election, but global growth momentum is set to wane in the near term as COVID-19 cases escalate in Europe and the U.S.


Weekly Macro Strategy – No More One-Way Discounting – October 30, 2020
 · Weekly Macro Strategy · 

Short-term risks are elevated for equities, although a clear U.S. election result next week would ease this source of tension.


Absolute Return Strategy – Looking Past The U.S. Election – October 29, 2020
Absolute Return ·  · 

Global equities and other risk assets were hit hard this week as COVID-19 infections continue to spike throughout Europe and parts of North America, forcing several countries into renewed shutdowns.


Long-Term Returns – Lower-For-Longer Real Portfolio Returns – October 29, 2020
Absolute Return ·  · Asset Allocation · 

The cyclical economic outlook has brightened since the Spring as the depressing effects of COVID-19 diminish, but the long-run return prospects for multi-asset portfolios remain challenging.


Weekly Macro Strategy – One Out Of Three Is Not Great – October 23, 2020
 · Weekly Macro Strategy · 

The Chinese economy is in solid shape. The U.S. and Europe are not. The lack of full mobility will continue to hamper the global economic recovery; a self-reinforcing expansion awaits a medical breakthrough.