Monthly Archives: March 2021

The ETF Portfolio Strategist: 31 March 2021

Introducing A New Strategy: Global Momentum

Starting with the next update of our proprietary strategies, Global Momentum (G.B16.MOM) will join the party. In line with the other two prop strategies, G.B16.MOM will use our standard 16-ETF opportunity set that spans the major asset classes on a global basis. The difference: G.B16.MOM will use price momentum as a risk-management tool (vs. return volatility and drawdown for the other two strategies).

continue reading at The ETF Portfolio Strategist

Macro Briefing: 31 March 2021

* Biden’s plan aims for major boost of gov’t spending as share of US economy
* Here are details of Biden’s $2 trillion infrastructure plan set for release today
* Buildup of Russian forces near Ukraine border ‘concerning,” says US official
* US 10-year Treasury yield on track for 3rd straight quarterly rise
* China’s services and manufacturing sectors post stronger growth in March
* China’s currency set for biggest monthly decline vs. US dollar in over 1-1/2 years
* Political and health crises rock Brazil, South America’s largest economy
* UK GDP increased more than expected in Q4
* US Consumer Confidence Index jumps in March to one-year high
* US home prices up 11.2% in Jan vs. year-ago level–fastest gain in 15 years:

Are Consumer Staples The New Sector Leader For Equities?

Last week we wondered if a change in sector leadership was brewing for US equities, based on a set of exchange traded funds. Among the leading candidates, we mused: Consumer Staples Select Sector SPDR (XLP). The future’s still unclear (as always), but after XLP’s strong gain yesterday, building on last week’s solid rally, the possibility that staples are moving to the fore after posting lagging results remains an intriguing possibility.

Continue reading

Macro Briefing: 30 March 2021

* Biden focuses on reversing economic disparity in next major policy agenda
* CDC director sees rising risk of a new surge in Covid-19 cases
* Pfizer, Moderna COVID-19 vaccines highly effective after first shot, study shows
* China moving toward building alliance of autocracies
* Is China starting to export inflation to the global economy?
* Suez Canal traffic moving again after ship blocking waterway is freed
* 10-year Treasury yield at 1.77% in early Tuesday trading–14-month high
* Texas factory activity accelerated in March, Dallas Fed reports
* US Dollar Index rises to 4-1/2 month high:

Macro Briefing: 29 March 2021

* Ship blocking Suez Canal is partially freed
* Biden this week will outline major infrastructure-spending proposal
* Growing list of firms warning of supply-chain bottlenecks, rising inflation
* Bond bulls question outlook for continued rise in interest rates
* Housing inflation is ramping up globally
* Investment banks take hit from hedge fund default on margin calls last week
* NYC is harbinger for US office space generally: most workers aren’t coming back
* Cold weather weighed on US consumer spending, income in February
* US Consumer Sentiment Index rises to one-year high in March
* NY Fed’s Weekly Economic Index revised to first growth reading in over a year:

Book Bits: 27 March 2021

Capital Allocators: How the world’s elite money managers lead and invest
Ted Seides
Review via fin|news
Ted Seides wanted to pen an investment book that he would have kept on his desk as he went through his investment career.
The investor and host of the Capital Allocators podcast believes he has done just that with his second book, Capital Allocators: How the World’s Elite Money Managers Lead and Invest…
The book’s content was borne from the insights and best practices of guests appearing on Seides’ podcast, which began as a few friends talking with no particular objective in mind and has turned into an industry-acclaimed must-listen for many.
“One thing led to another, and now it’s four years later, five million downloads and 200 conversations. I wanted to take some of the best lessons and put them down on paper,” said Seides, the former president and co-cio of hedge fund-of-funds Protégé Partners who also worked under CIO David Swensen at Yale University’s investments office.

Continue reading