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 +0.98% last week aided by strong moves in our Uranium Trust (U-U CN) +8.8% and the $A (AUDS) +3.7% while the standout drag across the portfolio came from our gold ETF (MNRS) -3.7%.
Last week we followed our plan and switched our Euro ETF (ULE US) into copper play (COPX US) following its 40% fall, so far so good but its clearly very early days. We have 3 moves now potentially on the menu for the coming week s/ months:
- MM is still looking to switch our Emerging Markets (IEM) position for a small loss into ASX traded BetaShares Global Energy ETF (FUEL) following its 23% correction.
- We are now also looking to switch our BetaShares NASDAQ 100 ETF (NDQ) into the iShares China facing ETF (IZZ) – see below.
- Assuming we are correct and equities rally into August we will be looking to reduce stock market exposure e.g. scratch the Vanguard FTSE Europe ETF (VGK US).
NB All 3 are more likely to be executed in the coming weeks as opposed to days.
