Global Foreign Exchange – The U.S. Dollar Is Losing Its Appeal – October 15, 2020


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Global Foreign Exchange – The U.S. Dollar Is Losing Its Appeal – October 15, 2020
 · Foreign Exchange · 

Investor anxiety associated with the global health crisis and the outcome of the U.S. presidential election has stayed somewhat elevated in recent weeks



 

Weekly Macro Strategy – Still A Long Road Ahead – October 9, 2020
 · Weekly Macro Strategy · 

There remains a race between a medical breakthrough and more normal economic and social mobility, versus mounting permanent layoffs.



 

Foreign Exchange – Stick With The Yen In An Uncertain World – October 9, 2020
Foreign Exchange · 

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Webcast – Equity Rotation: Stronger Global Growth Is The Necessary Condition – (10min:12sec) – September 30, 2020
Webcasts · 

In this week’s webcast, Peter Perkins discusses the outlook for performance across the major equity markets and MRB’s recommended positioning in a global equity portfolio.



 

Global Fixed Income – The Reflationary Bridge And The Bond Market – September 25, 2020
 · Fixed Income · 

U.S. and G7 government bond yields have traded in an extremely tight range of late as bond volatility has been crushed by global central banks through highly accommodative policies and strong forward guidance.



 

Weekly Macro Strategy – Still A Stop-Start World – September 25, 2020
 · Weekly Macro Strategy · 

The setback to the global economic recovery, primarily in the service sector, was to be expected, and somewhat frothy equity market sentiment is now deflating.



 

Regional Equities – Rotation Drivers Are Still Not In Place – September 24, 2020
 · Equities · 

A global economic recovery increases the potential for a rotation away from richly-valued U.S. stocks, but the growth outlook is not yet sufficiently robust to warrant such a shift.



 

Weekly Macro Strategy – Rotation Update – September 18, 2020
 · Weekly Macro Strategy · 

We remain short-term cautious on equities (and industrial commodities) because the economic recovery is proving underwhelming in many countries and there are a number of potential risks ahead.



 

Weekly Macro Strategy – A Small Crack, So Far – September 11, 2020
 · Weekly Macro Strategy · 

We remain cautious on the near-run outlook, as the recovery in the global economy will have difficulty matching the elevated expectations discounted by equities and industrial commodities.



 

Equities – Japanese Equities: Uncertain Earnings Upside In A Recovery – September 11, 2020
Equities · 

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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.



 

Asset Allocation Strategy – A Now Formally Asymmetric, Pro-Growth Fed – September 4, 2020
 · Asset Allocation · 

Economic recoveries are inherently beneficial for pro-growth assets, especially given open-ended monetary accommodation.



 

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.



 

Weekly Macro Strategy – A Volatile Period Ahead – August 28, 2020
 · Weekly Macro Strategy · 

This month’s softening in U.S. consumer confidence is worrisome, and underscores that a self-reinforcing economic recovery is not yet assured. The same is generally true around the globe.



 

Asset Allocation Strategy – Tread Carefully, And Tactically – August 7, 2020
 · Asset Allocation · 

Momentum, sentiment and policy can be crucial drivers of capital markets over a 3-6 month horizon, but ultimately fundamentals determine asset performance.



 

Webcast – Is The U.S. Set To Lose Equity & Currency Leadership? – (11min:55sec) – July 30, 2020
Webcasts · 

In this week’s Webcast, Phillip Colmar explores the potential for a broad-based rotation in relative performance away from U.S. leadership, and provides several investment strategy recommendations.



 

Absolute Return Strategy – Do U.S. Assets Justify Their Premium? – July 28, 2020
Absolute Return ·  · 

Today’s report explores the potential for a broad-based rotation in relative performance away from U.S. equity and currency leadership.



 

Theme – Do U.S. Assets Justify Their Premium? – July 28, 2020
 · Themes · 

Today’s report explores the potential for a broad-based rotation in relative performance away from U.S. equity and currency leadership.



 

Foreign Exchange – Stick With The MRB Optimal FX Barbell Basket – July 17, 2020
Foreign Exchange · 

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Webcast – The Legacy Of COVID-19: Inflationary Or Deflationary? – (10min:13sec) – July 16, 2020
Webcasts · 

In this week’s Webcast, Phillip Colmar analyzes the underlying trend in global consumer price pressures and provides a long-term roadmap for inflation.



 

Theme – Are We Headed For Deflation Or Inflation? – July 13, 2020
 · Themes · 

The outlook for inflation has become a hotly debated topic in recent months. The unique sudden-stop global recession has crushed final demand but has also imposed significant capacity restraints for many services and goods providers.



 

Global Foreign Exchange – Policy Stimulus’ Impact On FX Markets – July 7, 2020
 · Foreign Exchange · 

The bounce in global risk assets from deeply oversold levels has favored pro-growth currencies.



 

Webcast – Catalyst For A Regional Equity Rotation Is Not Yet In View – (9min:51sec) – June 24, 2020
Webcasts · 

In this week’s Webcast, MRB strategist Peter Perkins discusses the outlook for the major equity markets and MRB’s recommended positioning on a 6-12 month horizon.



 

Absolute Return Strategy – Setting Up For Another Shakeout? – June 23, 2020
Absolute Return ·  · 

The powerful bounce back in global risk assets since late-March has benefited our pro-growth positioning.



 

Regional Equities – Greater Earnings Certainty Needed For A Major Rotation – June 18, 2020
 · Equities · 

There are important crosscurrents in translating the macro landscape into regional equity positioning.



 

TradeBook Update – June 12, 2020
Absolute Return · 

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Weekly Macro Strategy – Broadening Equity Rally, For Now – May 29, 2020
 · Weekly Macro Strategy · 

The equity rally has spread beyond U.S. large-caps into lagging bourses and sectors.



 

Long-Term Returns – Long-Term Fallout From The COVID-19 Crisis – May 28, 2020
Absolute Return ·  · Asset Allocation · 

The post-COVID-19 world poses fresh challenges for investors. While we expect the global economy to rebound in the year ahead, growth in the longer-term will be somewhat slower than was probable prior to the crisis.



 

COVID-19 – Mobility Data: Global Charts – May 21, 2020
 · Economics & Policy · 

Google has provided access to its mobility data during the COVID-19 crisis. While only temporarily available, we felt it would be helpful to provide clients with a regularly-updated chartpack to assess how economic reopening is progressing.



 

Foreign Exchange – The COVID-19 Effect On The Yen – May 8, 2020
Foreign Exchange · 

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