Weekly Macro Strategy – Early Cycle, Or Late Cycle? – July 30, 2021


china

 

Weekly Macro Strategy – Early Cycle, Or Late Cycle? – July 30, 2021
Weekly Macro Strategy · 

Global risk asset markets remain well supported by the economic and policy backdrop.



 

Weekly Macro Strategy – Too Much Stimulus Breeds Complacency – July 16, 2021
 · Weekly Macro Strategy · 

The recent easing in bond yields will keep risk asset markets well supported. Investors (and central banks) are looking through the current period of strong growth and higher inflation, but are likely to be surprised at the underlying resilience of both.



 

Policy – China’s RRR Cut: Much Less Than Meets The Eye – July 16, 2021
Economics & Policy · 

 Add to Favorite Reports  



 

Theme – MRB Total Inflation Measure: U.S. Price Pressures Are Broad-Based – July 15, 2021
 · Themes · 

This report introduces the MRB Total Inflation Measure to provide a more wholistic perspective of the inflation pressures brewing within the U.S. economy.



 

Emerging Market Equities – EM Bank Earnings Turnaround Offers Key Support – July 15, 2021
 · Emerging Markets · Equities · 

EM earnings momentum is picking up, and broadening beyond the semiconductor sector.



 

Weekly Macro Strategy – Be Careful Extrapolating Last Decade’s Trends – July 9, 2021
 · Weekly Macro Strategy · 

We remain mildly pro-growth in terms of investment positioning. However, using the 2010s’ playbook for investing this decade will not pan out well.



 

China – Back To Normal – July 6, 2021
 · Emerging Markets · 

While investors in the U.S. suffer bouts of anxiety over the first mutterings of a possible thought that the Fed may consider setting a date for the start of policy normalization, Chinese policymakers have already barged through the gates along this path



 

Webinar – Long-Term Returns: A Challenging Road Ahead – (78min:38sec) – June 30, 2021
Webcasts, Webinars & Roundtables · 

Today’s Webinar features MRB’s Global Asset Allocation Strategist, Peter Perkins, discussing MRB’s long term returns framework.



 

Weekly Macro Strategy – A (Brief) Taste Of Risk-Off – June 25, 2021
 · Weekly Macro Strategy · 

The recent pause in the cyclical uptrend in bond yields may persist for a while longer, but time is not on the side of bond bulls.



 

Long-Term Returns – A Challenging Road Ahead – June 22, 2021
Absolute Return ·  · Asset Allocation · 

The poor starting point for equity, bond, credit, and commodity valuations points to subpar returns on balanced portfolios over the next decade, even as the global economy expands at a reasonable pace.



 

Webinar – Understanding Digital Currencies – (75min:16sec) – June 17, 2021
Webcasts, Webinars & Roundtables · 

Today’s Webinar features MRB’s Absolute Return & Foreign Exchange Strategist, Santiago Espinosa, discussing the myths and “fundamentals” driving cryptocurrencies…



 

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.



 

China – The Recovery Phase Is Ending – June 8, 2021
 · Emerging Markets · 

The post-pandemic phase of China’s economic rebound has been exceptionally strong, and current data suggests it is already in the early stages of ending.



 

Weekly Macro Strategy – Its Only A Pause – May 28, 2021
 · Weekly Macro Strategy · 

The bear market in government bonds is on temporary hiatus.



 

Foreign Exchange – Has The Crypto Fever Broken? – May 25, 2021
 · Foreign Exchange · 

While a bit controversial three months ago, we noted in March that the probability of a bust in cryptocurrencies was more likely than a continuation of the pandemic-induced exuberance (a view that panned out).



 

Weekly Macro Strategy – Breakouts And Breakdowns – May 21, 2021
 · Weekly Macro Strategy · 

The mild risk-off phase should persist in the near run.



 

Emerging Markets Fixed Income – EM Debt Will Shine While The U.S. Dollar Softens – May 20, 2021
 · Emerging Markets · Fixed Income · 

Two key external drivers of EM bond returns will offer a constructive backdrop in the year ahead.



 

Webcast – Cyclical, Rather Than Secular Support For Commodities – (10min:17sec) – May 19, 2021
Webcasts, Webinars & Roundtables · 

In this week’s Webcast, Peter Perkins discusses the outlook for commodity prices based on current valuations and prospective demand conditions.



 

Emerging Markets Foreign Exchange – When Uncertain, Prioritize Growth – May 13, 2021
 · Emerging Markets · Foreign Exchange · 

The overarching driver of EM currencies is global trade, which offers a strongly positive backdrop and will likely propel appreciation versus a softening U.S. dollar.



 

Webinar – MRB’s Big Picture Themes – (73min:46sec) – May 12, 2020
Webcasts, Webinars & Roundtables · 

In this week’s Webcast, Phillip Colmar and Warren Smith, examined the major macro and investment trends that will be key to generating outsized portfolio returns over the next several years.



 

Absolute Return Strategy – Risk Of Another 1987 Crash – May 10, 2021
Absolute Return ·  · 

The investment cycle is decisively ahead of the economic cycle, with many signs of frothy conditions, at a point when consumer price inflation is rising, bonds have entered a durable bear market and the U.S. dollar is vulnerable.



 

Theme – Risk Of Another 1987 Crash – May 10, 2021
Themes · 

 Add to Favorite Reports  The investment cycle is decisively ahead of the economic cycle, with many signs… Continue



 

China – Reawakened Consumers Underpin Growth – May 6, 2021
 · Emerging Markets · 

China is growing at a robust, above-trend growth, with concerns over the COVID-19 pandemic slipping into the distant past.



 

Weekly Macro Strategy – A Durable Trend, Not A One-Off – April 30, 2021
 · Weekly Macro Strategy · 

Led by the U.S., the global economic recovery continues to strengthen on the back of increased vaccinations.



 

Equities – A Weaker Dollar Will Eventually Favor Unhedged Non-U.S. Equities – April 30, 2021
Equities · 

 Add to Favorite Reports  



 

Emerging Market Equities – When Global Trade Pops, EM Stocks Sizzle – April 29, 2021
 · Emerging Markets · Equities · 

Recent EM underperformance is mostly attributable to the renewed vigor of stocks in the U.S., along with some idiosyncratic risks that have impacted mega-cap Chinese stocks.



 

Webcast – Key Portfolio Tilts For Outsized Returns – (8min:45sec) – April 28, 2021
Webcasts, Webinars & Roundtables · 

In this week’s Webcast, Phillip Colmar outlines four longer-term global investment trends that will be key to generating outsized portfolio returns over the next several years.



 

Weekly Macro Strategy – Bumps, But No Derailing – April 23, 2021
 · Weekly Macro Strategy · 

Global economic prospects are steadily improving, although investors should expect periodic minor setbacks until the pandemic truly recedes.



 

Absolute Return Strategy – Playing Major Global Trends – April 22, 2021
Absolute Return ·  · 

The global reflation trade has cooled of late, after becoming technically stretched in recent months.



 

Theme – Playing Major Global Trends – April 22, 2021
Themes · 

 Add to Favorite Reports  The global reflation trade has cooled of late, after becoming technically stretched in… Continue