We’ve already seen 10 big macro themes from Goldman Sachs (see here) as well as some actionable ideas (see here), but here are 10 more from Morgan Stanley. Not a whole lot of context here, unfortunately (via Business Insider):
— European Equities: Long Financials (SX7P, SXIP); Short Cyclicals (SXNP, SXPP, SX4P)
— Asia Equities: Long Nikkei, HSCEI, Kospi, Taiex; Short CNX Nifty, JCI, SET, FBMKLCI, FSSTI
— US equities: Healthcare over Staples; Tech over Discretionary; Chemicals over Industrials and Energy
— Long US credit versus European Credit (Long US CDX HY versus Short iTraxx XOver)
— Long USD interest rate volatility (Long 2y10y swaption straddles)
— Long Spain over Italy sovereign bonds (10y Bonos versus BTPs)
— Long US IG long-duration discount bonds versus UST
— Short EM sovereign credit (Short EM CDX)
— Long new-issue CLO equity
— Long USDJPY, Long USDRUB
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.
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