Global Multi-Asset Investment Strategist, True Insights

Jeroen Blokland

Global Multi-Asset Investment Strategist

Build Well-Diversified Multi-Asset Portfolios

True Insights

Our research helps investors build well-diversified multi-asset portfolios and profit from market developments. In addition, our unique and proven Macro – Sentiment – Valuation (MSV) investment framework ensures a consistent flow of new investment opportunities. Together with our market views, these opportunities will be reflected in our live ETF-based Global Multi-Asset Portfolios.

Cross Asset Strategy

<ul>
<li>The US economy grew much faster than expected in Q4, raising questions about whether yields will ever hurt economic momentum. The secret: fight higher interest burdens with more debt.</li>
<li>Employees of the ECB are happy to work there. We get that, Christine, but this doesn’t make you a great leader. Let’s talk again when the ECB must cut rates before Summer.</li>
<li>When it comes to Macro policies, China is just like everyone else. Whenever there is a problem, don’t solve it; just throw debt and liquidity at it. Chinese stocks are outperforming this week!</li>
</ul>


The US economy grew much faster than expected in Q4, raising questions about whether yields will ever hurt economic momentum. The secret: fight higher interest burdens with more debt.
Employees of the ECB are happy to work there. We get that, Christine, but this doesn’t make you a great leader. Let’s talk again when the ECB must cut rates before Summer.
When it comes to Macro policies, China is just like everyone else. Whenever there is a problem, don’t solve it; just throw debt and liquidity at it. Chinese stocks are outperforming this week!


The Weekly Market Monitor – Growth = Debt, China's Liquidity Wave & Earnings Not Falling off a Cliff

<ul>
<li>The Empire State Manufacturing Survey has crashed! Only two months during COVID-19 were worse. So, how bad is it?</li>
<li>China is a mess. And it just got worse. The Hang Seng Index collapsed. Are Chinese stocks a buy yet?</li>
<li>UK inflation added to the ‘we must remain hawkish’ narrative of central banks. Yet, many rate cuts are coming.</li>
</ul>


The Empire State Manufacturing Survey has crashed! Only two months during COVID-19 were worse. So, how bad is it?
China is a mess. And it just got worse. The Hang Seng Index collapsed. Are Chinese stocks a buy yet?
UK inflation added to the ‘we must remain hawkish’ narrative of central banks. Yet, many rate cuts are coming.


The Weekly Market Monitor – US Hawkishness, Bitcoin Memes, and China's Value Trap

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>Takeaway:China serves as the primary deflationary force in the global macroeconomic landscape.</li><li>Despite China’s slowing growth, potential policy responses might paradoxically exacerbate deflationary pressures.</li><li>We anticipate rising inflation risks linked to potential supply shocks resulting from geopolitical developments.</li></ul>

Takeaway:China serves as the primary deflationary force in the global macroeconomic landscape.Despite China’s slowing growth, potential policy responses might paradoxically exacerbate deflationary pressures.We anticipate rising inflation risks linked to potential supply shocks resulting from geopolitical developments.

EM by EM #39: All Roads Out of China Lead to Goods Disinflation

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Macroeconomics

<ul>
<li>China’s GDP growth continues to be driven by government spending while domestic demand and consumer confidence remains weak.</li>
<li>Exports fall in 2023, the first time since 2016 despite industrial production and utilisation rising.</li>
<li>China’s CPI inflation in December comes in at -0.3 % YoY, falls for three consecutive months.</li>
</ul>


China’s GDP growth continues to be driven by government spending while domestic demand and consumer confidence remains weak.
Exports fall in 2023, the first time since 2016 despite industrial production and utilisation rising.
China’s CPI inflation in December comes in at -0.3 % YoY, falls for three consecutive months.


Mint Macro Roundup: Deflation, Anaemic GDP Growth & Falling Exports Amplifies China Headwinds

<ul>
<li>After a ten-year struggle, US spot Bitcoin ETFs have been approved, closing one of the most entertaining and remarkable (what regulator gets hacked in the process) ETF races ever.</li>
<li>US inflation came in hotter than expected, but unlike previous months, underlying data was pretty benign, with one measure of headline CPI dropping below 2% for the first time in 3.5 years.</li>
<li>Chinese equities are out. And not just by sentiment-driven short-term investors. Meanwhile, Japanese stocks are on fire, powering ahead by more than 6% since the start of this year.</li>
</ul>


After a ten-year struggle, US spot Bitcoin ETFs have been approved, closing one of the most entertaining and remarkable (what regulator gets hacked in the process) ETF races ever.
US inflation came in hotter than expected, but unlike previous months, underlying data was pretty benign, with one measure of headline CPI dropping below 2% for the first time in 3.5 years.
Chinese equities are out. And not just by sentiment-driven short-term investors. Meanwhile, Japanese stocks are on fire, powering ahead by more than 6% since the start of this year.


The Weekly Market Monitor – Chinese Equities Out, Bitcoin In!

China

The Shanghai Stock Exchange Composite Index is a capitalization-weighted index. The index tracks the daily price performance of all A-shares and B-shares listed on the Shanghai Stock Exchange. The index was developed on December 19, 1990 with a base value of 100. 

Shanghai Stock Exchange Composite Index (SHCOMP INDEX)

Shanghai Stock Exchange Composite Index (SHCOMP INDEX)

The Weekly Market Monitor – Growth = Debt, China's Liquidity Wave & Earnings Not Falling off a Cliff

Welcome to the Weekly Market Monitor, keeping you updated on last week’s most important charts and developments in financial markets.

Jeroen Blokland

The Weekly Market Monitor – US Hawkishness, Bitcoin Memes, and China's Value Trap

The Weekly Market Monitor! Start your week in financial markets, with some of last week’s biggest surprises, stories and charts.

Jeroen Blokland

EM by EM #39: All Roads Out of China Lead to Goods Disinflation

Takeaway: China serves as the primary deflationary force in the global macroeconomic landscape. Despite China’s slowing growth, policy responses...

Steno Research

Mint Macro Roundup: Deflation, Anaemic GDP Growth & Falling Exports Amplifies China Headwinds

China's GDP growth largely driven by government spending, fails to impress markets. Domestic consumer demand remains weak and property investment...

Mint Finance

The Weekly Market Monitor – Chinese Equities Out, Bitcoin In!

With hindsight, this week likely marks Bitcoin's 'official' adoption as a new asset class. Meanwhile, investors seem done with China, once the...

Jeroen Blokland