Emerging Markets
A Crude Paradox: OPEC Hikes Despite China Slump…
Key Takeaways From The National People’s Congress…
China’s Deflationary Pressures Remain Strong…
Colombia: Bet Against Market Optimism…
Colombian financial markets have rallied on the expectation that a right-wing government will be elected in 2026. We take a contrarian bearish stance on the nation's financial markets. Colombia is suffering from two structural macro issues – unsustainable public debt and plunging energy exports – that will not be easily solved by a conservative administration in 2026. Continue underweighting Colombia within EM equity and fixed-income portfolios, continue shorting the COP versus the USD and the CLP, and bet on yield curve steepening.
Our Portfolio Allocation Summary for March 2025.
China: Caixin PMIs Point To Low Growth As National People’s Congress Begins…
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.
US: Fade Core Capital Goods Strength…