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 gained +2.47% last week with both of the battery & lithium ETF (ACDC) and the BetaShares Global Gold Miners ETF (MNRS) positions advancing over 6%, unfortunately, the BetaShares Asian Technology Tigers ETF (ASIA) dragged on the portfolio falling just under 6% courtesy of weakness in Tencent and Alibaba.
Over recent weeks MM has been patient with a few holdings as the market has largely unfolded according to the MM roadmap but the time is nigh to start tweaking our existing holdings similar to our previously flagged thoughts:
- We are looking to switch our BetaShares NASDAQ 100 ETF (NDQ) into locally traded BetaShares Global Healthcare ETF (DRUG) – watch for alerts over the coming days/weeks.
- European equities rallied through July as expected, we are looking to scratch our Vanguard FTSE Europe ETF (VGK US) following its solid recovery.
- Similarly MM is looking to scratch our Emerging Markets (IEM) position above the 60 level, or 6-8% higher.
NB Executing at least one of number 2 or 3 will reduce our direct exposure to “risk” after its strong recovery through late June and July – our definite leaning at this stage.
