Here's the topics/ideas covered in the latest Weekly Macro Themes report [click for latest]. This report is aimed at professional investors, and covers a mix of macro/ideas/risks, across a global macro/multi-asset universe…
This week I covered the following topics:
1. China: Remain bullish on Chinese stocks given strong technicals, cheap valuations, mixed but net supportive macro, and advances in the tech sector.
2. US Tech: Cautious (but not yet outright bearish) on US tech stocks given extreme expensive valuations, stretched relative performance, and lopsided relative value readings.
3. Energy Sector: Monitoring energy prices for upside vs downside risk (bull/bear stalemate), meanwhile new extremes in oil prices and energy stocks raise the prospect of potential major moves.
4. Defensive Stocks: Remain constructive on defensive stocks given extreme cheap relative value, historically light positioning, stretched sectors, and tentative turning technicals.
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Thanks and best regards,
Callum Thomas
Founder & Head of Research at Topdown Charts
LinkedIn: https://www.linkedin.com/in/callum-thomas-4990063/
Twitter: https://twitter.com/Callum_Thomas
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