Quarterly Outlook
Equity outlook: The high cost of global fragmentation for US portfolios
Charu Chanana
Chief Investment Strategist
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Macro Dragon: Welcome to Week #21...
Kay Van-Petersen
Global Macro Strategist
Summary: Macro Dragon = Cross-Asset Daily Views that could cover anything from tactical positioning, to long-term thematic investments, key events & inflection points in the markets, all with the objective of consistent wealth creation overtime.
(These are solely the views & opinions of KVP, & do not constitute any trade or investment recommendations. By the time you synthesize this, things may have changed.)
Macro Dragon: Welcome to Week #21
Top of Mind…
- Theme for this wk is flash PMIs, mins out of the Fed & RBA, same US / CH geopolitics, reopening vs. recovery, fiscal vs. monetary & likely looking for a structural break out of recent trading ranges across a number of assets.
- Holidays: CA out today, DK, FR & GER Thu Holidays, Worth noting long wkd up ahead in the US with Memorial day on Mon May 25 being a holiday.
- US: Building Permits, Housing Starts, FOMC mins, Philly Fed Mdg, Flash PMIs, CB Leading Index, Existing Home Sales…
- CH: CB Leading Index
- EZ: ZEW Economic Sentiment, Current Account, Final CPI, Consumer Confidence, Flash PMIs
- JP: Flash GDP, Tertiary Industry Activity, Core Machinery Orders, Trade Balance, Flash mfg. PMI, National Core CPI
- UK: CB Leading Index, Unemployment Rate, CPI, PPI, Flash PMIs, Retail Sales
- AU: RBA mins, CB Leading Index, MI Leading Index, Flash PMIs
- NZ: PPI, Milk Auction, Credit Card Spending, Retail Sales
- CA: CPI, Annual Budget release, ADP, Core Retail Sales, Corporate Profits
Please Make The Bandwidth For The Following…
- May 14 Thu – Saxo Market Call, where we touched on bitcoin, gold, negative rates & banks
- Make time for NOK & Norway folks, JJH touches on part of the implication on the fiscal measures announced last wk FX Update: NOK to break higher on massive stimulus?
- Ole checking in on wheat Another year of plenty awaits the grain market
- Creagh on Aus jobs report last week Hope trade fades
-
Start-End = Gratitude+Integrity+Vision. Create Luck. Process > Outcome. Sizing > Idea.
Namaste,
KVP
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