Global Strategy

Global Strategy is led by Chen Zhao, the firm’s chief global strategist. The focus of the service is to identify major investment opportunities in all asset classes around the globe, provide asset allocation recommendations, and warn against developing major risks.

 

Chen Zhao
Co-founder & Chief Global Strategist
Full Bio >

Global Strategy Deliverables
Weekly Report

Published on Mondays three times a month, the Weekly Report aims at forecasting major market moves, policy shifts, and important changes in economic conditions.

The reports provide actionable investment ideas on how to capitalize on expected changes in market conditions.

Quarterly Strategy Outlook & Asset Allocation

Published at the beginning of each quarter, the Quarterly Outlook & Asset Allocation Strategy provides our assessments on macro themes and major trends in the world economy and financial markets, and highlights our qualitative recommendation on asset allocation strategy.

Special Reports

These are ad hoc in-depth reports that delve into key macro topics. Examples include focus reports on secular trends in global interest rates, the long-term outlook for China’s economy, Trumponomics, and how to time the next financial mania.

Monthly Tactical Asset Allocation Model

A quant-driven asset allocation model runs every month to generate weights of 26 asset markets in 12 developed market countries and emerging market equities. The model portfolio is benchmark-agnostic and designed to maximize absolute returns. The main purpose of the model is to provide a quantitative perspective to clients’ investment decisions.

Previous Global Strategy Research


Like Father, Like Son?June 24, 2019

The Fed’s dovish pivot last week will encourage risk-taking, but the ramp up in stocks may also complicate the timing of the Fed next action. We continue to advocate a barbell structure with good exposures to risks on one side, and long duration on the other. Finally, we reiterate our weak dollar call, upgrade EM to an overweight and recommend clients to buy gold and take a speculative position on Brent oil.


Seven Steps And A Stumble?June 29, 2018

The MSCI All-Country World Equity Index has been stuck in a tight range since January of this year, but it now seems as if it is suspended on the brink of a sharp fall. With the Fed having already delivered seven rate hikes since January 2016, the central bank has become even more hawkish at a time of escalating trade tensions between the U.S. and its trading partners.


Two Down, One To Go?December 14, 2018

For a mature, high-income economy, what would the natural equilibrium for nominal bond yields be? Japan has seen its government bond yields below 1% for more than two decades and at zero in recent years. It is very likely that eurozone bond yields will never get much above zero again either. U.S. 10-year Treasury bond yields could also gravitate towards zero during the next economic downturn.

Global Strategy

Global Strategy is led by Chen Zhao, the firm’s chief global strategist. The focus of the service is to identify major investment opportunities in all asset classes around the globe, provide asset allocation recommendations, and warn against developing major risks.

Chen Zhao
Co-founder & Chief Global Strategist
Full Bio >

Key Deliverables
Weekly Report

Published on Mondays three times a month, the Weekly Report aims at forecasting major market moves, policy shifts, and important changes in economic conditions.

The reports provide actionable investment ideas on how to capitalize on expected changes in market conditions.

Quarterly Strategy Outlook & Asset Allocation

Published at the beginning of each quarter, the Quarterly Outlook & Asset Allocation Strategy provides our assessments on macro themes and major trends in the world economy and financial markets, and highlights our qualitative recommendation on asset allocation strategy.

Special Reports

These are ad hoc in-depth reports that delve into key macro topics. Examples include focus reports on secular trends in global interest rates, the long-term outlook for China’s economy, Trumponomics, and how to time the next financial mania.

Monthly Tactical Asset Allocation Model

A quant-driven asset allocation model runs every month to generate weights of 26 asset markets in 12 developed market countries and emerging market equities. The model portfolio is benchmark-agnostic and designed to maximize absolute returns. The main purpose of the model is to provide a quantitative perspective to clients’ investment decisions.

Previous Research

Like Father, Like Son?June 24, 2019

The Fed’s dovish pivot last week will encourage risk-taking, but the ramp up in stocks may also complicate the timing of the Fed next action. We continue to advocate a barbell structure with good exposures to risks on one side, and long duration on the other. Finally, we reiterate our weak dollar call, upgrade EM to an overweight and recommend clients to buy gold and take a speculative position on Brent oil.

Seven Steps And A Stumble?June 29, 2018

The MSCI All-Country World Equity Index has been stuck in a tight range since January of this year, but it now seems as if it is suspended on the brink of a sharp fall. With the Fed having already delivered seven rate hikes since January 2016, the central bank has become even more hawkish at a time of escalating trade tensions between the U.S. and its trading partners.

Two Down, One To Go?December 14, 2018

For a mature, high-income economy, what would the natural equilibrium for nominal bond yields be? Japan has seen its government bond yields below 1% for more than two decades and at zero in recent years. It is very likely that eurozone bond yields will never get much above zero again either. U.S. 10-year Treasury bond yields could also gravitate towards zero during the next economic downturn.

 

 

 

 

 

 

 

 

“At Alpine Macro, we have brought together some of world’s brightest and most successful Strategists with decades of combined experience with global financial markets. Our clients can rest assured that our team is dedicated to producing the most insightful, relevant and provocative independent investment research you can find.”

– Chen Zhao, Co-founder & Chief Global Strategist