Report
Keith Grindlay

The week ahead June 13 - 18, 2021

Key market data and events Macro Thoughts will be focused on...Comments include...

  • In our May 18 report, ‘Extremes’, we said ‘China’s rebound is slowing’. We also warned, ‘Commodity markets are filled with consensus trades, and look ready for a sharp correction’. Global bond yields started to trend lower from May 19, US yields have fallen to their lowest in three months, while long term moving averages for Chinese 10 year yields have started to cross. See Macro Thoughts, June 11, ‘Cost of Living’
  • Strict COVID containment measures are being put in place in Guangdong, China, increasing economic pressure on local businesses. Delays, congestion and container availability are creating problems at Chinese ports and terminals in southern China, caused by the authorities restricting business activity, as they aim to stem recent COVID outbreaks, increasing the time for either loading or emptying by days
  • Since 2017, Chinese bond and currency markets have largely led global market trends and, recently, the former deputy central bank governor, Hu Xiaolian, suggested the Yuan could become the ‘currency of choice’ by 2050 under a dual circulation plan. Overseas entities owned CNH3.4tn ($53bn) in yuan-denominated equities and CNH3.3tn in yuan-denominated bonds at the end of 2020, up 62% and 47% respectively from the previous year
  • The Index surged 7% to 2,857 on Friday….

Provider
Macro Thoughts Ltd
Macro Thoughts Ltd

Since 2012, top tier global Hedge, Pension, Investment and Insurance Fund managers, as well as corporates and private individuals, have benefited from Macro Thoughts’ proven insight, market commentary, hedging, and investment strategies to leverage opportunities, with positive returns on over 75% of strategies, producing double digit returns for our clients over consecutive years.

Macro Thoughts is independently researched and draws on extensive macroeconomic and market experience gained in Fixed Income, Futures, Derivatives, Bond, Forex, Commodity and Equity Index markets and from strong Global Macro investment, risk taking and strategy backgrounds. Far-reaching product knowledge across asset classes enables us to consider hedging and investment strategies that reflect our expected market trends. Macro Thoughts is directed by Keith Grindlay, whose experience spans, somewhat uniquely, both the buy and sell side, having managed trading and investment desks at top tier institutions, ensuring all strategies are evaluated for risk/reward and the optimal instrument(s) for best leveraging the strategy suggested are employed.

Globally recognised for strong analytical skills, aligned with a particular aptitude for anticipating global economic events ahead of the majority of commentators, Macro Thoughts’ independent fundamental economic research and analysis and resultant strategies have a track record that assures exceptional results, with a service that surpasses the model of bank-supplied, partisan research and stands out from the general contributions on platforms that your clients and peers already have access to. The support and value offered by Macro Thoughts, delivering written research and analysis, presentations and consulting services, is backed by decades of macroeconomic and market experience and can be tailored to your specific requirements.

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www.macrothoughts.co.uk

Analysts
Keith Grindlay

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