Market Musings 250223: Asset Class, Stock Chartstorm
Market Musings 250223:
Asset Class, Stock Chartstorm
All charts, almost no text this week for quick perusing!
Summary
Asset classes: Stocks lead Bonds and Commodities
But listed Real Estate is recovering too
Regions: Eurozone (France), UK stocks lead
Bond regions: Emerging Markets favoured
Size: Prefer Mid-Caps in the US, but Large-Caps in Europe, UK
Styles: Value and High-Beta lead
Sectors: Industrials, Financials, US Semiconductors
Podcast:
UK and French stocks lead the charge to new index highs
Despite the negative factors, why are we seeing a stock rally now?
What are the underlying drivers for this surprising strength?
What sectors have propelled the FTSE 100 and the CAC 40 to new highs?
6 reasons to stay positive on Equities for the longer term.
Video:
OUR 2023 INVESTMENT THEMES
Five new investment themes for 2023
Discover our 2023 investment themes defined each year by our team of strategists.
What’s Working v What is Not: Asset classes
Global Stocks v Bonds: Stocks lead
Global Stocks v Investment Grade Credit: Stocks lead despite correction
Global Stocks v Commodities: Stocks lead
Global Stocks v Listed Real Estate: REITs gain slightly
What’s Working v What is Not: Regional Stocks, Bonds
Global Stocks: UK, Europe lead (all in US dollars)
Global Bonds: Emerging Market (USD) Bonds perform
Equity Styles: Large v Small, Value v Growth
Large v Small: Prefer Mid-Caps in US, but Large-Caps in Europe
UK Large v Mid v Small: no clear trend
Value v Growth: Value winning in US, no Europe trend
High-Beta/Cyclical v Low Volatility/Defensive: High-Beta winning
Equity Sectors
Cyclical v Defensive: Prefer Banks to Utilities
Cyclical v Defensive: Prefer Europe Industrials, French CAC-40
Cyclical v Tech: Prefer US Industrials, Mining to Nasdaq 100
Semiconductors: a standout Tech sector in the US
Have a great week ahead
Edmund
Disclaimer
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4 comments
Can we read this as a 'risk on' environment?
Is it? The FTSE250 and AIM have been falling for 3 weeks. The FTSE250 is just above the 50MA, the AIM is below it and so is the S&P500.
Hi Ed, your macro overviews are fascinating and in my view a very important contribution to content on Stockopedia, so thank you.
My question is about the main European markets recent growth, you appear confident that they still have runway. What do you think, given the recessionary outlook, is the likelihood of the new highs being nothing more than a rally for the FTSE100/ CAC 40 with a hard landing to follow?
Thank you once again Edmund for your excellent contributions. As shared workspaces go the Paris Opera is without comparison.