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Podcast: All into Account
Episode: Equity Strategy: USD strength - equity implications; The barbell of Defensives and Energy remain our key preferences
Description: Speaker: Mislav Matejka, CFA, Head of Global Equity Strategy
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In addition to the move up in energy prices and elevated bond yields, renewed USD strength is another factor that the equity market needs to digest. Last October, USD peak coincided with the equity trough, and the more mixed equity performance in the past few months is coinciding with USD bottoming. Almost always in the past, when USD is strengthening, global equities have been under pressure. Our FX team is bullish on the USD over the next 3-6 months, vs all major crosses. If that comes t...