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 slipped -0.87% last week with gains by our Strong Australian Dollar ETF (AUDS) +1.48% and Global Healthcare ETF (DRUG) more than offset by falls in the Gold Miners ETF (MNRS) -2.54%, and US Treasury Bond 20+year ETF (GGOV) -1.7%.
Global Macro Portfolio Hitlist: A long Japanese Yen ETF plus an increased resources exposure, both into further weakness from current levels.
As touched on previously over the coming weeks/months, in line with our Hitlist above we are looking to increase our exposure to resources into weakness believing that our 10% positions in both the Copper Miners (COPX US) and Gold Miners (MNRS US) ETF’s is light considering our medium/long term view but at this stage of the $US’s cycle we plan to be pedantic on entry.
This morning we’ve taken a quick look at the relative position of a Japanese Yen ETF and our most likely funding vehicle the BetaShares NASDAQ 100 ETF (NDQ):
