Currencies
La última versión del modelo MacroQuant sugiere que el mercado alcista de las acciones de EE. UU. está llegando a su fin. El modelo espera que los rendimientos del Tesoro caigan más adelante este año, pero aún no está listo para tomar posiciones de larga duración.
Jonathan provides an update on Canada following strong performance from Canadian stocks last year. On a tactical basis, underweight Canada versus global ex-US on the expectation of tariffs targeting Canada and Mexico. Following a sell off, or if a trade war is avoided, investors should place Canadian stocks on upgrade watch with the goal of moving to a modest overweight versus global ex-US.
Global risk assets are engulfed in a wave of euphoria, which is pulling Europe higher along the way. However, risks still abound. How should investors adjust their allocation to Europe under these highly uncertain conditions?
