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U.S. Equities – U.S. Banks: Taking Stock Of The Earnings Drivers – January 21, 2021
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U.S. Equities – U.S. Banks: Taking Stock Of The Earnings Drivers – January 21, 2021
· Equities ·
U.S. bank stocks have soared in recent months, boosted by positive vaccine news, a steepening yield curve, and the Fed’s decision in December to reverse the ban on share buybacks for the largest banking institutions.
U.S. Equities – Long-Term Tailwinds Will Fade – January 20, 2020
· Equities ·
Several of the tailwinds that powered equities during the last economic expansion and over the past four decades are set to fade in the years ahead.
In today’s Webcast Mehran Nakhjavani tackles the curious recent emergence of backwardation in the forward curves for crude oil.
Weekly Macro Strategy – Extrapolating Can Be Dangerous – January 15, 2021
· Weekly Macro Strategy ·
The recent stall in U.S. employment trends underscores the need for rapid vaccinations to clear the path to a self-reinforcing global economic expansion.
Economy – U.S. Inflation: The Near-Term Upside Will Fade, But… – January 15, 2021
· Economics & Policy ·
Cyclical U.S. growth prospects have improved on the back of COVID-19 vaccine approvals and the increased odds for additional fiscal stimulus.
Fixed Income – U.S. Treasury Yields: Starting The Year With A Pop – January 15, 2021
Fixed Income ·
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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.
Webcast – U.S. Economy: A Bridge To A Brighter Future – (6min:49sec) – January 5, 2021
Webcasts ·
In this week’s Webcast, Prajakta Bhide discusses MRB’s above-consensus U.S. economic outlook.
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.
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.
Economy – U.S. Economic Outlook: An Upside Surprise Awaits – December 22, 2020
· Economics & Policy ·
This report updates our U.S. economic outlook to account for recent progress on vaccinations against COVID-19, and the long-awaited forthcoming round of fiscal stimulus.
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.
Fixed Income – Euro Area: Scope For Higher Inflation Despite Euro Strength – December 18, 2020
Fixed Income ·
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Equities – U.K.: Any Brexit Deal Will Help – December 18, 2020
Equities ·
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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.
In today’s Webcast Mehran Nakhjavani discusses the growth of the global economy in 2021 will be far better than it was in 2020.
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).
Equities – Global Equities: Excessive Long-Term Earnings Optimism – December 11, 2020
Equities ·
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Commodities – Industrial Metals: More Upside, But Barely Worth Chasing – December 11, 2020
Commodities ·
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Global Fixed Income – 2021 Outlook: Bond Supports Slowly Fade – December 10, 2020
· Fixed Income ·
We enter 2021 with a constructive pro-growth fixed-income positioning, albeit with measured return expectations.
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.
Economy – U.S.: A Restocking Boost Next Year – December 9, 2020
· Economics & Policy ·
U.S. inventories experienced a deep drawdown in the first half of this year, amid COVID-19 distortions to demand as well as production/supply chain disruptions.
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.
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.
Economy – Will U.S. Consumption Soon Drop Off A Fiscal Cliff? – December 1, 2020
· Economics & Policy ·
While recent progress on COVID-19 vaccines has lifted prospects for U.S. growth in the second half of 2021