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>The <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200 (AS51 INDEX)</a> appears oversold vs. world equities, but has not sustained upside momentum to warrant a broad allocation. Although dividends are nice over the long run.</li>
<li>We constructed a 12-name basket that can scale as the index trend improves. The basket holds a mix of cyclical and defensive stocks.</li>
<li>A narrower rate differential with the US may help, but significantly less so for USD-investors like us. The bar is high for Aussie equities, so we prefer stock selection.</li>
</ul>


The S&amp;P/ASX 200 (AS51 INDEX) appears oversold vs. world equities, but has not sustained upside momentum to warrant a broad allocation. Although dividends are nice over the long run.
We constructed a 12-name basket that can scale as the index trend improves. The basket holds a mix of cyclical and defensive stocks.
A narrower rate differential with the US may help, but significantly less so for USD-investors like us. The bar is high for Aussie equities, so we prefer stock selection.


Australia: Value Down Under Awaiting Confirmation. Here’s a Stock Basket That Scales

Data-Driven Commodity Research, The Commodity Report

The Commodity Report

Data-Driven Commodity Research

A unique newsletter about commodities and macro analysis in a weekly format.

Commodities

<ul><li>US-Dollar Reversal Incoming? The signs become more that the USD is topping out. This is the result of our latest currency-assessment.</li><li>Particular interesting could be setups in AUDUSD as well as CADUSD - two currency pairs that have been hit the hardest by the strong USD-cycle over the last months.</li><li>Both pairs trade at multi-year support and are heavily oversold across all metrics.</li></ul>

US-Dollar Reversal Incoming? The signs become more that the USD is topping out. This is the result of our latest currency-assessment.Particular interesting could be setups in AUDUSD as well as CADUSD - two currency pairs that have been hit the hardest by the strong USD-cycle over the last months.Both pairs trade at multi-year support and are heavily oversold across all metrics.

Podcast by J.P. Morgan analysts on global markets, At Any Rate

At Any Rate

Podcast by J.P. Morgan analysts on global markets

Analysts from J.P. Morgan’s Research team take a closer look at the stories behind some of the biggest trends, themes and developments in markets today.

FX & Rates

<ul>
<li>Macro crew discussed a benign outlook on carry fairly risk on climate for the first half of the year</li>
<li>FX vols expected to be fairly contained in 2026 due to factors like US growth and central bank activity</li>
<li>Themes for positioning in 2026 include bullish European growth, antipodean FX, and bearish Yen outlook</li>
</ul>
<p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>


Macro crew discussed a benign outlook on carry fairly risk on climate for the first half of the year
FX vols expected to be fairly contained in 2026 due to factors like US growth and central bank activity
Themes for positioning in 2026 include bullish European growth, antipodean FX, and bearish Yen outlook

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Macro, FX and Rates Strategist

Ishaan Dev Kapoor

<ul>
<li>The dollar reacted to one macro factor all year, with a sensitivity statistically indistinguishable across five regimes; what changed was which driver moved the factor and whether others followed it.</li>
<li>Gold led before the Iran war, VIX during it and again in the fiscal-dominance weeks; since Jackson Hole the dollar has traded the factor itself, led by the front end.</li>
<li>A dollar factor and the same macro drivers explain 72%-85% of every G10 currency except the yen; beyond the dollar, NOK traded oil, CAD the BoC, NZD the RBNZ.</li>
</ul>


The dollar reacted to one macro factor all year, with a sensitivity statistically indistinguishable across five regimes; what changed was which driver moved the factor and whether others followed it.
Gold led before the Iran war, VIX during it and again in the fiscal-dominance weeks; since Jackson Hole the dollar has traded the factor itself, led by the front end.
A dollar factor and the same macro drivers explain 72%-85% of every G10 currency except the yen; beyond the dollar, NOK traded oil, CAD the BoC, NZD the RBNZ.


Five Regimes, One Reaction Function-  What the Dollar and G10 Have Traded on in 2026

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

<ul>
<li>A review of recent events/data impacting our investment themes and outlook</li>
<li>What the dollar bear market rally means for our themes</li>
<li>The domestic Chinese market starts to rally, outperforming in Asia</li>
</ul>


A review of recent events/data impacting our investment themes and outlook
What the dollar bear market rally means for our themes
The domestic Chinese market starts to rally, outperforming in Asia


Overview #31 - China Breaks Out and the USD Has Its Moment

Australia

The Australian dollar is the official currency of the Commonwealth of Australia.

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AUD (USDAUD CURNCY)

Australia: Value Down Under Awaiting Confirmation. Here’s a Stock Basket That Scales

Australian shares have lagged for a while, but we see opportunity in a basket of trending stocks. We can scale up if the index improves, while...

Damanick Dantes, CMT

US-Dollar Reversal Incoming?

Particular interesting could be setups in AUDUSD as well as CADUSD - two currency pairs that have been hit the hardest by the strong USD-cycle over...

The Commodity Report

Global FX Volatility Outlook 2026

Mira and the macro crew provided a positive outlook on carry and risk for the first half of 2026, predicting contained FX vols, low central bank...

At Any Rate

Five Regimes, One Reaction Function- What the Dollar and G10 Have Traded on in 2026

The dollar traded one macro factor all year with an unchanged sensitivity; though underlying drivers shifted In G10, four currencies traded beyond...

Ishaan Dev Kapoor

Overview #31 - China Breaks Out and the USD Has Its Moment

A review of recent events/data impacting our investment themes and outlook. We look at the Dollar bear market rally and the domestic Chinese market.

Rikki Malik

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)