Global Equities, Multi-Asset PM, Dantes Outlook

Damanick Dantes, CMT

Global Equities, Multi-Asset PM

Dantes Outlook

We invest over a full market cycle, using multi-asset portfolios tailored to each global client, from individuals to family offices.

Built to Endure

Cross Asset Strategy

<ul>
<li>U.S. small caps, metals and mining stocks, and gold were key detractors within the portfolio suite, offsetting positive allocation effects in our underweight fixed income exposure. </li>
<li>Aggressive portfolios maintained their outperformance YTD driven by strong selections within the equity asset class.</li>
<li>Positioning changes include commodity diversification beyond gold, adding Japanese equities, and maintaining an underweight to bonds.</li>
</ul>


U.S. small caps, metals and mining stocks, and gold were key detractors within the portfolio suite, offsetting positive allocation effects in our underweight fixed income exposure. 
Aggressive portfolios maintained their outperformance YTD driven by strong selections within the equity asset class.
Positioning changes include commodity diversification beyond gold, adding Japanese equities, and maintaining an underweight to bonds.


Portfolio Update: Broader Commodity Positioning, Narrow Equity Leadership

Head of Research, Steno Research

Emil Moller

Head of Research

Macro and Geopolitical Research House

Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

<ul><li>We of course have been totally explicit about how stocks have been a minefield to go long since August and while I entertained the thought of a brief comeback on the back of a potential breather at the long-end of the UST curve, it is rather obvious that none of that is really playing out.</li><li>The bond market is in a sad state and risk assets struggle to keep afloat and we grace ourselves of having no net exposure to either asset class.</li><li>We are currently in the process of thoroughly reviewing our portfolio and are actively considering the inclusion of bonds to profit from the prevailing disinflationary pressures and the overall subdued economic outlook</li></ul>

We of course have been totally explicit about how stocks have been a minefield to go long since August and while I entertained the thought of a brief comeback on the back of a potential breather at the long-end of the UST curve, it is rather obvious that none of that is really playing out.The bond market is in a sad state and risk assets struggle to keep afloat and we grace ourselves of having no net exposure to either asset class.We are currently in the process of thoroughly reviewing our portfolio and are actively considering the inclusion of bonds to profit from the prevailing disinflationary pressures and the overall subdued economic outlook

Portfolio Watch: Time to consider (EUR) bonds?

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

<ul>
<li>Welcome to our weekly flagship editorial.</li>
<li>The markets over the past week or two have made little sense as commodities (especially energy) have continued to outperform risk assets despite China apparently suffering from long-covid symptoms economically.</li>
<li>Chinese money and credit trends look worse than US trends post Lehman, which means that either China rebounds or else it is the end of the Chinese economy as we know it! We have timed our rotation from high-beta tech/AI to Energy/Commodity proxies amazingly well, but we need to remain vigilant at this juncture.</li>
</ul>


Welcome to our weekly flagship editorial.
The markets over the past week or two have made little sense as commodities (especially energy) have continued to outperform risk assets despite China apparently suffering from long-covid symptoms economically.
Chinese money and credit trends look worse than US trends post Lehman, which means that either China rebounds or else it is the end of the Chinese economy as we know it! We have timed our rotation from high-beta tech/AI to Energy/Commodity proxies amazingly well, but we need to remain vigilant at this juncture.


Steno Signals #60: Worse than Lehman in China!? The 3 Most Important Questions Right Now!

United States

The abrdn Bloomberg All Commodity Strategy K-1 Free ETF is an exchange-traded fund incorporated in the USA.  The Fund seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the Bloomberg Commodity Index Total Return.

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abrdn Bloomberg All Commodity (BCI US)

Portfolio Update: Broader Commodity Positioning, Narrow Equity Leadership

Full breakdown of our portfolio suite, performance, and new positioning. We broadened our commodity positioning, added Japan, and maintained a core...

Damanick Dantes, CMT

Portfolio Watch: Time to consider (EUR) bonds?

“It’s not apparently about expectations of higher inflation. And it’s also not mainly about shorter term policy moves”Jerome PowellHello Everyone...

Steno Research

Steno Signals #60: Worse than Lehman in China!? The 3 Most Important Questions Right Now!

The markets over the past week or two have made little sense as commodities (especially energy) have continued to outperform risk assets despite...

Steno Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)