Here's a brief overview of the topics and charts covered in the latest edition of the Weekly Macro Themes report [click for latest]. I send this report out late Friday NZ time and aim to cover a good mix of macro/ideas/risk topics, across a global macro/multi-asset universe…
This week I covered the following topics/ideas:
1. Global Policy Pivot: There is a clear pivot underway away from rate hikes to rate cuts, for now being lead by the smaller/developing and increasingly also emerging market central bank cohorts.
2. Value vs Growth: Remain bullish on value vs growth following a reset after the triple setbacks of 2023, and as the uptrend in global value vs growth is intact and relative value remains compelling.
3. Defensive Value: There is once again value in “defensive value” as allocations remain light and defensives fall out of favor – just as the broader market appears to be losing steam.
4. Renewable Energy Sector: Renewable energy sector equities are looking attractive again as the bubble bursts, valuations reset to cheap, and sentiment suffers as investors lose interest (despite big ambitions).
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The "Weekly Macro Themes" is part of our institutional offering aimed at multi-asset and macro-driven portfolio managers and strategists. The report takes a chart-driven macro, fundamental and multi-factor approach; a powerful combination of cross-asset idea generation for portfolio managers, charts on key global macro trends, analysis on portfolio risks, asset allocation research, and innovative indicators, in a format that delivers a balance of brevity and depth so that you can efficiently assimilate the insights.
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