28/09/2022 09:40

Invesco DB Agricultural Fund (DBA US) $19.97

MM’s dichotomy with our position in the DBA ETF is we like it over the next 12-24 months but we believe the next 15-20% move is on the downside. However considering we are only looking for a strong move by the likes of tech into Christmas the logic is easy to understand,  a switch in today’s rapidly evolving market, one which could easily be reversed in early 2023. This is yet another example where the market’s current characteristics cannot be ignored as it simply doesn’t favour some “set and forget” strategies.

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24/08/2022 09:35

Global Macro ETF Portfolio

The MM Global Macro ETF Portfolio slipped -0.3% last week with gains by the Invesco DB Agricultural Fund (DBA US) +3% and Global X Copper ETF (COPX US) +1.8% offset by falls in the BetaShares Global Gold Miners ETF (MNRS US) -4.3% and BetaShares Strong Australian Dollar ETF (AUDS US) -5.3% - more volatility is likely on Friday after Jackson Hole.

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13/07/2022 09:44

Global Macro ETF Portfolio

The MM Global Macro ETF Portfolio fell -1.01% last week as recession fears continued to weigh on global markets, our BetaShares Aussie Dollar (AUDS) -5.7% and Asian Tech (ASIA) -3.1% ETF’s were the main drags on the portfolio while support was provided from the US Nasdaq (NDQ) +3% and Invesco Agricultural Fund (DBA) +2.5% ETF’s.

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29/06/2022 09:33

Global Macro ETF Portfolio

The MM Global Macro ETF Portfolio added +1.43% last week with the Nasdaq ETF (NDQ) +5.76% & Asian Tech (ASIA) +3.6% offering most support while the Invesco Agricultural Fund (DBA US) lagged falling -3.7%.

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15/06/2022 09:35

Global Macro ETF Portfolio

The MM Global Macro ETF Portfolio slipped -4.2% last week with MM’s exposure to agriculture via the (DBA US) +2.7% and Asian Tech (ASIA) +0.8% our best performers while our positions in the Uranium Trust (U-U-CN) -13.3% and the Australian Dollar (AUDS) weighed on performance.

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01/06/2022 09:58

Global Macro ETF Portfolio

The MM Global Macro ETF Portfolio added +2.1% last week with our exposure to tech via Asian Tech (ASIA) +7.9% and the NASDAQ ETF 100 (NDQ) +6.1% finally leading the line while the Invesco DB Agricultural Fund (DBA) -2.1% was the only position which declined.

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19/05/2022 09:33

Invesco DB Agricultural Fund (DBA US) $US22.40

MM has held this DBA ETF since early 2020 when all eyes were focused on the pandemic, we continue to like this overseas ETF seeing another +50% upside over the coming years – this commodities ETF comprises of corn, soyabean, sugar, coffee, wheat etc. We wouldn’t be going “all in” at current levels after the recent strong gains but accumulating into weakness does look attractive in our opinion.

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18/05/2022 09:41

Global Macro ETF Portfolio

The MM Global Macro ETF Portfolio added +1.2% last week and remains fully invested. The positive performance was helped by the Invesco Agricultural Fund (DBA) +5.8% and Asian Tech (ASIA) +4.5% while the gold miners ETF (MNRS) was the main drag falling 4%.

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13/04/2022 08:57

Global Macro ETF Portfolio

The portfolio fell -0.99% during the week and remains fully invested. The DB Agricultural Fund (DBA US) +4.64% & the Uranium Trust +5.48% offset weakness in Asia Tech (-7.47%) & the Nasdaq ETF -5.57%.

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23/03/2022 09:44

Global Macro ETF Portfolio

The MM Global Macro ETF portfolio had a strong week up +3.98% while cash sits at 10%. The Asia Technology Tigers ETF (ASIA) the main driver up +13.19% with more gains expected today, while the Sprott Physical Uranium Trust (U.UN.TSE) also rallied by +7.59% . The only real weakness of note came from the Proshares Ultra Euro ETF (ULE US) which fell -2.19%.

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