Global equity markets appear to be recovering from their seizure of the year, but there is a wide dispersion of views on the market outlook. Canvassing our contacts, we have found a variety of responses to the latest equity setback. Is this the moment to jump out of overweight US equities or is still smart to buy the dips? Does the rebound in the US Dollar signify greater international enthusiasm for US assets or is it a substitute for US equity gains? Our macro-framework suggests that long positions in Japanese Yen and US Dollars, and in US equities relative to the rest of the world, should be maintained.
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EP research weaves complex and diverse information into coherent macro narratives, providing clear analysis and original market insights for global investors. Our clients benefit from our long experience in connecting economic developments with the credit and financial market outlook.
The analysis of developments in global private sector credit markets is fundamental to our understanding of the global economic and financial outlook. However, the actions and interventions of central banks and government have become increasingly important to our economic assessment.
For several years we have maintained that the only credible resolution of the 2008 global credit crisis is a resurgence of global inflation. We take an eclectic approach to the inflation outlook, considering political and socio-economic factors alongside macroeconomic drivers. We provide the multi-dimensional appraisal of the inflation outlook that is critical to formulating a successful investment strategy, at a time when inflation complacency is rife.
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