Global Multi-Asset Investment Strategist, True Insights

Jeroen Blokland

Global Multi-Asset Investment Strategist

Build Well-Diversified Multi-Asset Portfolios

True Insights

Our research helps investors build well-diversified multi-asset portfolios and profit from market developments. In addition, our unique and proven Macro – Sentiment – Valuation (MSV) investment framework ensures a consistent flow of new investment opportunities. Together with our market views, these opportunities will be reflected in our live ETF-based Global Multi-Asset Portfolios.

Cross Asset Strategy

<ul>
<li>We have to go back to 1980 to find a month when small US businesses thought it was an even worse time to expand.</li>
<li>Volatility is falling off a cliff as investors embrace a new kind of goldilocks. </li>
<li>A common denominator drives Bitcoin and Gold higher: their perceived value as insurance against adverse market circumstances.</li>
</ul>


We have to go back to 1980 to find a month when small US businesses thought it was an even worse time to expand.
Volatility is falling off a cliff as investors embrace a new kind of goldilocks. 
A common denominator drives Bitcoin and Gold higher: their perceived value as insurance against adverse market circumstances.


Sentiment Strengthens, While Fundamentals Fade

Founder, Market Thinker

Mark Tinker

Founder

Market Thinker

Mark Tinker has over 35 years experience as an investor, market strategist and economist. Having spent more than 20 years as a sell side strategist and being top rated on numerous occasions and surveys he moved to investment management in 2006 to run global equity portfolios in London and subsequently moved to Hong Kong in 2013 to help establish an Investment Management business for a top 20 international asset manager. He first started writing investment weeklies for his employers in 1989, developing a style characterised under the title Market Thinking and has been a regular commentator and presenter on CNBC, Bloomberg and other business channels, where his approach of rationalising market behaviour rather than making short term predictions on high frequency market data provides a welcome balance to his client audience.

Making Sense of the Narrative

Macroeconomics

<ul><li>The market fall this year has been steady and relentless rather than a panic crash, and last month the Sell in May mantra cut through and markets switched to bear market behaviour of selling rallies and not buying dips</li><li>Much of this we believe has been associated with leveraged structures unwinding, combined with fund redemptions, especially in tech, reversing the ‘upside crash’ of last year</li><li>Confidence is picking up slightly, but the Fed is key, in particular the extent to which it actively want the markets lower</li></ul>

The market fall this year has been steady and relentless rather than a panic crash, and last month the Sell in May mantra cut through and markets switched to bear market behaviour of selling rallies and not buying dipsMuch of this we believe has been associated with leveraged structures unwinding, combined with fund redemptions, especially in tech, reversing the ‘upside crash’ of last yearConfidence is picking up slightly, but the Fed is key, in particular the extent to which it actively want the markets lower

Founder & Chief Market Strategist - SAV Markets, SAV Markets

Shyam Devani

Founder & Chief Market Strategist - SAV Markets

Provide Comprehensive Analysis & Commentary

SAV Markets

SAV Markets aims to provide comprehensive analysis & commentary on foreign exchange and asset markets. The approach is multi asset as markets are typically interlinked. Cause and effect are always at work, even if those effects take time to manifest. As nothing is permanent we strive to get ahead of the curve in an ever changing world.

Technical Analysis

Chicago Board Options Exchange Volatility Index / Technical Analysis

Chicago Board Options Exchange Volatility Index

<ul>
<li>The bullish breakout on the VIX Index looks similar to January</li>
<li>Further gains are expected, probably this week and as we enter May</li>
<li>As a consequence expect continued losses on the S&amp;P 500</li>
</ul>


The bullish breakout on the VIX Index looks similar to January
Further gains are expected, probably this week and as we enter May
As a consequence expect continued losses on the S&amp;P 500


<ul>
<li>This is a follow up chart of the VIX Index that was shared last week</li>
<li>While we have dipped in the very short term, the underlying pattern warns of a significant rise</li>
<li>Such a development is likely to be seen with a falling S&amp;P 500</li>
</ul>


This is a follow up chart of the VIX Index that was shared last week
While we have dipped in the very short term, the underlying pattern warns of a significant rise
Such a development is likely to be seen with a falling S&amp;P 500


<ul>
<li>The VIX Index has turned up after declining by the same magnitudes as the previous two occasions</li>
<li>This warns of another leg up over the coming days and weeks</li>
<li>As a consequence it is a sign of renewed weakness on the S&amp;P 500</li>
</ul>


The VIX Index has turned up after declining by the same magnitudes as the previous two occasions
This warns of another leg up over the coming days and weeks
As a consequence it is a sign of renewed weakness on the S&amp;P 500


United States

The VIX Index is a financial benchmark designed to be an up-to-the-minute market estimate of the expected volatility of the S&P 500® Index, and is calculated by using the midpoint of real-time S&P 500 Index (SPX) option bid/ask quotes.

Chicago Board Options Exchange Volatility Index (VIX INDEX)

Chicago Board Options Exchange Volatility Index (VIX INDEX)

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VIX Index Shows Trouble Ahead

The VIX Index is showing signs of moving up again which in turn indicate a decline on the S&P 500 over the coming days and weeks

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