Etikett: Latin America

Prefer Gold and US Treasuries in March

db x-trackers Prefer Gold and US Treasuries in MarchPrefer Gold and US Treasuries in March

The Flow Whisperer – TAARSS says prefer Gold and US Treasuries in March

Deutsche Bank – Synthetic Equity & Index Strategy – Global

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Tactical Asset Allocation Relative Strength Signal (TAARSS) Monthly Update

Top recommendations for March: Gold, US Treasuries, High Grade Credit, US Utilities, and Indonesia.

Recent market relief rally is not consistent with ETF flow trends

Since Feb 11, global equity markets experienced a relief rally of over 5% through the end of February. However the stock market hype was not enough to change investors’ sentiment as reflected in flow trends. Actually, although inflows into safe haven assets such as Gold, US Treasury, and IG Credit, and outflows from Equity both slowed down; the underlying trend of preference for defensive assets over riskier ones remained intact (Figure 1). Therefore we remain skeptic regarding the sustainability of the recent rally, and would rather wait for a clearer signal before calling for a switch back to risk-on mode.

Tactical positioning for March based on TAARSS

  • Overall we continue to see stronger support into defensive assets over risky assets.
  • For Global Equities we recommend to remain on the sidelines, or look for specific themes with attractive support such as Global Natural Resources.
  • For US equity prefer a sector approach. We again favor Utilities and Telecom for March. While for Intl DM equities we prefer Canada.
  • And for EM equities we prefer Indonesia and Latin America on recent support build-up.
  • In Fixed Income, prefer US Treasuries and IG credit over HY credit. In Commodities, prefer Gold on very strong support.

The Synthetic Equity & Index Strategy Team
Deutsche Bank – Equity Research

A balanced approach high on equities in Q1

A balanced approach high on equities in Q1

Deutsche Bank – Synthetic Equity & Index Strategy – Global A balanced approach high on equities in Q1

The Flow Whisperer – TAARSS says prefer a balanced approach high on equities in Q1
06 January 2016 (23 pages/ 885 kb)

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Tactical Asset Allocation Relative Strength Signal (TAARSS) Monthly Update

Top recommendations for January: US Broad, DM Global Regional, US Technology and Telecom, and EM Asia equities.

Global equities present the best investment support going into Q1

We recommend a balanced approach for Q1 preferring equities over fixed income, while avoiding commodities (Figure 1). Last quarter’s equity trend suggests a more positive investor sentiment towards risk assets, while the less consistent trend in fixed income suggest that investors have mixed views. Within fixed income we prefer the belly of the curve in Q1.

Tactical positioning for January based on TAARSS

  • For Global Equities continue to prefer positions in US, and DM equities; while adding some EM exposure
  • For US equity exposure prefer broad market cap exposure with a tilt to domestic cyclical sectors such as Tech and Telecom.
  • For Intl DM equities prefer global regional allocations (e.g. EAFE-like) instead of other sub regions or country exposures. Stay neutral to Europe, and away from Asia Pac.
  • For EM equities we see some level of support, particularly in Asia. We prefer regional Asia exposures over Latin America or single country allocations.
  • In Fixed Income, prefer IG credit over rates or HY credit.

TAARSS says prefer Asia Pac and Europe ex EUR countries in June

The Flow Whisperer – TAARSS says prefer Asia Pac and Europe ex EUR countries in June

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TAARSS says prefer Asia Pac and Europe ex EUR countries in June Tactical Asset Allocation Relative Strength Signal (TAARSS) Monthly Update

Top recommendations for June: Hong Kong, European (non-EUR), Chinese and Indian equities, and EM Debt.

Market review

May was an overall weak month for the markets; Global equities (ACWI) were flat, while US Bonds (AGG) and Commodities (DBC) retreated by 0.44% and 3.17%, respectively.

TAARSS rotation strategy monthly performance review

Monthly TAARSS rotations were mixed in May. Most equity strategies underperformed their benchmarks, while non-equity strategies outperformed.

Tactical positioning for June 2015 based on TAARSS

This month in global equity markets prefer Intl DM and EM, and stay neutral to the US. Region wise prefer Asia Pacific and Europe, with neutral North American exposure, while staying away from Latin America. In US equities we don’t see much differentiation therefore we recommend a broad approach. Sector wise we see weakness across the board, but we expect Technology, Consumer Discretionary, and Health Care to be more resilient. In Intl DM countries prefer Hong Kong, Japan, and non-EUR countries such as Switzerland and the UK. Within EM countries, we recommend a country approach focusing on India, and China. In Fixed Income we prefer Credit over Rates, particularly EM debt. Within commodities, we saw some support in diversified broad exposure. See Figure 13 and Figure 14 for full allocation details for the month of June.

Market Vectors stänger ned colombiansk ETF

Market Vectors stänger ned colombiansk ETF

Market Vectors stänger ned colombiansk ETF Market Vectors stängde den 12 december 2014 ned ett antal av sina börshandlade fonder, till exempel

    • Market Vectors Bank and Brokerage ETF (NYSEARCA:RKH)
    • Market Vectors Colombia ETF (NYSEARCA:COLX)
    • Market Vectors Germany Small-Cap ETF (NYSEARCA:GERJ)
    • Market Vectors Latin America Small-Cap ETF (NYSEARCA:LATM)

Market Vectors Renminbi Bond ETF (NYSEARCA:CHLC)

Orsaken till att Market Vectors stängde den dessa börshandlade fonder var att intresset för dessa ETFer varit för lågt. Market Vectors erbjuder en hel den nischade börshandlade fonder, varav flera blivit mycket populära, medan andra inte lyckats fånga placerarkollektivets hjärta på samma sätt. De senare brukar därför stängas ganska snabbt.