Correlations
Tariff front-running behavior makes the April hard economic data difficult to interpret, but we take the strong reading from Food Services spending as a signal that the US consumer has not yet buckled.
Low Macro Correlations Hint at Tactical USD Opportunity…
The MacroQuant model is no longer bullish on stocks but is not yet prepared to turn underweight. Subjectively, the Global Investment Strategy team is more bearish on equities than the model.
The MacroQuant model is no longer bullish on stocks but is not yet prepared to turn underweight. Subjectively, the Global Investment Strategy team is more bearish on equities than the model.
