Technical
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.
In its budget plans last week, the Indian fiscal authorities announced major tax cuts for households – the equivalent of about US$12 billion, 0.3% of GDP – to boost consumer spending. Soon thereafter, the central bank cut its policy rates by 25 bps – for the first time in five years. Can these…
In this first presentation of 2025, we start with an overview of the 2025 outlook webcast polls, and a brief post-mortem of the 2024 market performance. Then, we shift gears and examine what is behind the recent surge in bond yields and its implications for equities. We also review market technicals and positioning and conclude with a list of trades to prepare our portfolio for continued moves in yields.
