Strategy - BoP risk stabilizing in EM
Compared to last month, cyclical conditions remain largely unchanged. As a result, the strategy does not need to make major adjustments to its positioning. The only significant change is an increase of exposure in 2Y IR due to BoP risk stabilizing on a lower level in China and other EM.
Performance was positive across all sectors in April. The new long position in commodities as well as long IR and EQ in Brazil performed particularly well.
ThirdYear Capital is a provider of global macro strategy and portfolios, focusing on systematic countercyclical investing.
For additional information and contact, please refer to our website: http://third-year.com/
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