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 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%.
As we mentioned earlier in the week the global ETF market now holds over $US4 trillion in underlying assets making it one, if not the biggest success stories of financial markets over the last decade and is an area that MM has some ideas on how we can add value to this space – stay tuned over coming months!
We’ve been fairly quiet over the last few months with this particular portfolio but we envisage July being very different, firstly consider a few takeouts from our current market view when compared to the portfolios composition:
- We are looking for global equities to test or break there 2022 lows yet we have 40% of the portfolio directly long equities across various markets, we intend to reduce this – we didn’t include gold here due to its “safe haven” status.
Obviously, we need to further align this portfolio with MM’s macro view over the coming weeks and in particular, we want to reduce our equities position if we see the rally in global stocks through July that MM is targeting – we may also take a short &/or a long volatility position but this will again be determined by prices at the time. While this portfolio is all about holding our best 10 macro ideas at any one time this could include cash for a few weeks as we stalk the next opportunity, it’s certainly performed well as an asset class over the last few months!
