Asset Allocation Strategy – Positioning For A Turbulent 2022 – December 3, 2021


asia-ex-japan

 

Asset Allocation Strategy – Positioning For A Turbulent 2022 – December 3, 2021
 · Asset Allocation · 

Next year is shaping up to be more challenging for investors, as central banks progressively unwind monetary accommodation in response to the ongoing economic recovery/expansion and elevated inflation readings.



 

Weekly Macro Strategy – Economic Resilience Means Higher Bond Yields (Eventually) – November 26, 2021
 · Weekly Macro Strategy · 

The global economic outlook remains upbeat, based on forward-looking indicators and extremely supportive monetary and fiscal policies.



 

Webcast – Sub-Par Returns For The Long Run – (13min:26sec) – November 24, 2021
Webcasts, Webinars & Roundtables · 

In this week’s Webcast, global strategist Peter Perkins discusses the long-term outlook for capital market returns



 

Emerging Market Equities – Waiting For The China Bounce – November 23, 2021
 · Emerging Markets · Equities · 

This year’s powerful revival in global trade and overall demand usually would have been associated with strong EM stock performance



 

Long-Term Returns – Payback Looms – November 18, 2021
Absolute Return ·  · Asset Allocation · 

The investment climate promises to be much more challenging over the next 10 years than in recent decades.



 

Roundtable – Round-Tripping From EM ex-China Back To China – (65min:05sec) – November 17, 2021
Webcasts, Webinars & Roundtables · 

In this Roundtable MRB’s emerging markets team, Mehran Nakhjavani and Amr Abdel Khalek, discussed the outlook for EM assets



 

Weekly Macro Strategy – A Slippery Slope – November 12, 2021
 · Weekly Macro Strategy · 

We remain moderately pro-growth in our investment positioning.



 

Asset Allocation Strategy – The Threat Of A Gradual Monetary Accommodation Unwind – November 5, 2021
 · Asset Allocation · 

A gradual unwinding of monetary accommodation poses little threat to the global economic recovery but could prove more disruptive for capital markets



 

Emerging Markets Foreign Exchange – Time To Focus More On Quality – October 28, 2021
 · Emerging Markets · Foreign Exchange · 

It is relatively rare for the U.S. dollar to strengthen at the same time as Treasury yields rise



 

Weekly Macro Strategy – Bet With, Or Against, The Consensus? – October 22, 2021
 · Weekly Macro Strategy · 

We remain positioned for a moderately higher global stock/bond ratio in the next 6-12 months, with losses in the denominator and positive, but more muted, gains in equities (with greater volatility).



 

Weekly Macro Strategy – A Bumpier Second Wave – October 15, 2021
 · Weekly Macro Strategy · 

This week’s change in energy policy in China was positive for the economy, and reinforces the upbeat global economic outlook. Moreover, signs that inflation will prove sticky continue to mount.



 

Weekly Macro Strategy – A Bout Of Vertigo – October 8, 2021
 · Weekly Macro Strategy · 

Equity prices have moved ahead of improving underlying corporate earnings, leaving stocks overbought at a point when some short-term threats have developed.



 

MRB TradeBook Update – October 8, 2021
Absolute Return · 

 Add to Favorite Reports  



 

Webcast – The Decoupling Of The Policy, Economic & Investment Cycles – (17min:21sec) – October 6, 2021
Webcasts, Webinars & Roundtables · 

In this week’s Webcast, Phillip Colmar discusses how the unprecedented events over the past couple of years have led to an abnormal decoupling of the policy



 

Asset Allocation Strategy – Moderating From Boom To Still Solid – October 1, 2021
 · Asset Allocation · 

Global growth and inflation will both downshift over the next few months before stabilizing at faster rates than most investors expect.



 

Webcast – Take Some Profits In EM ex-China – (7min:40sec) – September 29, 2021
Webcasts, Webinars & Roundtables · 

In this week’s Webcast, Mehran Nakhjavani highlights some of the key takeaways from last week’s MRB Emerging Market Equities Report



 

Weekly Macro Strategy – The Canaries Are Still Chirping – September 24, 2021
 · Weekly Macro Strategy · 

The risk of global contagion from Chinese real estate woes and policy uncertainty should remain low.



 

Emerging Market Equities – Take Some Profits In EM ex-China – September 23, 2021
 · Emerging Markets · Equities · 

The overall backdrop for EM equities remains broadly constructive, given the robust trade cycle, solid domestic demand and continuing liquidity support in the world’s leading economies.



 

Webcast – FX: Positioning Around A Weak U.S. Dollar Forecast – (10min:11sec) – September 22, 2021
Webcasts, Webinars & Roundtables · 

In this week’s Webcast, Santiago Espinosa highlights MRB’s FX strategy



 

Weekly Macro Strategy – Wanna Job? – September 17, 2021
 · Weekly Macro Strategy · 

Q4 employment surveys showed a further huge surge in hiring plans, underscoring that the global economic recovery will be solid and durable.



 

Weekly Macro Strategy – Government Bond Yields: Is The Pause Ending? – September 10, 2021
 · Weekly Macro Strategy · 

Soggy economic data in China in the near run and a moderation in growth rates in the developed world could cause equity markets to churn further.



 

MRB TradeBook Update – September 10, 2021
Absolute Return · 

 Add to Favorite Reports  



 

Emerging Markets Fixed Income – Generous Spreads Belie Constructive Backdrop – September 2, 2021
 · Emerging Markets · Fixed Income · 

The case for holding emerging market local-currency denominated debt (EMLCD) is a simple one: the EMLCD spread (over Treasuries) has widened to levels consistent with economic stress



 

Weekly Macro Strategy – Fiscal Cliff, Or Fiscal Liftoff? – August 27, 2021
 · Weekly Macro Strategy · 

Near-run headwinds for equities and credit will persist given heightened virus anxiety and peak growth concerns.



 

Emerging Markets Foreign Exchange – The Dollar Is Still King… Of EM FX Performance – August 26, 2021
 · Emerging Markets · Foreign Exchange · 

While the ebb and flow of U.S. dollar sentiment will continue to tug at the performance of EM currencies, the overall global trade and economic backdrop over the next year will be supportive of modest dollar weakness



 

Weekly Macro Strategy – Dragging Out The Cycle – August 20, 2021
 · Weekly Macro Strategy · 

Virus angst may hold back equities in the near run, while keeping bond yields pinned down and delaying monetary policy from becoming less hyper-accommodative



 

MRB TradeBook Update – August 20, 2021
Absolute Return · 

 Add to Favorite Reports  



 

Emerging Markets – Stuttering Growth May Buffet The Weakest EM Currencies – August 19, 2021
 · Emerging Markets · 

Policymakers in developed economies have dismissed rising inflation as merely “transitory”, but their counterparts in the EM world have already embarked on a rate hiking cycle.



 

Asset Allocation Strategy – Transitioning From The Acceleration Phase – August 6, 2021
 · Asset Allocation · 

The inherent contradictions in the price of risk assets and the level of real interest rates against a backdrop of an early-stage economic recovery argue against a full-bore pro-growth investment posture.



 

Absolute Return Strategy – Stuck In A Moment (The 2010s) – August 5, 2021
Absolute Return ·  · 

It is common for investors and central bankers to get stuck in a preceding longstanding macro trend well after fundamentals have shifted.