Leaning into the 1969-70 roadmap - VP Macro Snapshot
> Updated fixed income roadmap: repeat of 1969-70
> How to time steepeners + Fed pivot
> US Recession: initial claims the odd one out
> Equity market roadmap - ‘66 vs ’69: policy response the difference
> Equities: capital cycle long/short opportunities
> Credit: a lot of re-pricing still to go with junk
> China: tactical equity headwinds clearing
> EM: still not enough conditions to bet on EM equity outperformance
> FX: focus on relative value
> Commodities: industrials set for tactical weakness
> Gold: bullish tactical + strong fundamental backdrop
> How to time steepeners + Fed pivot
> US Recession: initial claims the odd one out
> Equity market roadmap - ‘66 vs ’69: policy response the difference
> Equities: capital cycle long/short opportunities
> Credit: a lot of re-pricing still to go with junk
> China: tactical equity headwinds clearing
> EM: still not enough conditions to bet on EM equity outperformance
> FX: focus on relative value
> Commodities: industrials set for tactical weakness
> Gold: bullish tactical + strong fundamental backdrop
Macro Snapshot
