The Market Matters Global Macro ETF Portfolio Tracks our top 10 global macro calls, and provide avenues to trade them via ASX and internationally listed Exchange Traded Funds (ETF’s) – Click here to view
The MM Global Macro ETF Portfolio rallied +1.95% last week enjoying stellar gains by the Sprott Physical Uranium Trust (U-U CN) +17% while the Global X Copper ETF (COPX US) was the worst performer slipping -4.75%.
Following last week’s Jackson Hole symposium we find ourselves looking to increase “risk” positions into further weakness but as we’ve alluded to previously patience feels prudent for now:
- We are considering re-entering the ASX traded BetaShares NASDAQ ETF (NDQ) into further weakness, we exited this ETF in the first week of August – it closed ~5% below our sale price yesterday.
- We may make our first foray into the crypto space over the next few months if we see a washout to fresh 2022 lows for Bitcoin i.e. around 15% lower.
- If we decide to be aggressive and by both of the above positions the likely funding vehicle would be our Proshares Ultra Short Yen (YCS US) position which is likely to spike higher if the above 2 fall towards our targeted areas.
I.e. at this stage we are looking to migrate up the risk curve but at more attractive levels.
