Quarterly Strategy Update: A Rotation to Cyclical Leadership?

by Steven Vannelli of GaveKal Capital, 10/25/16

This quarter we discuss our work navigating a global equity rotation from defensive-driven leadership to cyclical-driven leadership.

  • We analyze economic growth trends and our belief that we are in the closest thing to a synchronized global upturn that we've seen in years.
  • We discuss three liquidity shocks are impacting asset prices: China devaluing the yuan, divergent monetary policies, and changing US money market fund rules; and
  • We look at how far cyclicals have run, making us attuned to any potential flare-up in liquidity shocks.

Download the full report to learn more.