In today’s briefing:
- Ohayo Japan| Europe Sells Off; NUGGET: Mrs Watanabe-Now Momentum FX; Watch for Retail Equity Shift
- Artificial Inconsistencies
Ohayo Japan| Europe Sells Off; NUGGET: Mrs Watanabe-Now Momentum FX; Watch for Retail Equity Shift
- OVERSEAS. EUR STOXX600 -1% as hikes, recession fears, overbought markets sap risk; US-China Tensions Eases after Blinken China Trip; Ford Chairman Says US still can’t Compete with China on EVs
- JAPAN. NKY Futs -0.2% vs Cash; Japan likely starts on backfoot US out and European Sell off; Interest in investing in Japan spreading to start-ups; Uniqlo headwinds-China, China
- NUGGET. Nikkei reported that Japanese Retail (Mrs Watanabe) fx traders turned momentum in FX; Watch for when that happens in Equities…
Artificial Inconsistencies
- One reason the Global Fund Manager Survey is interesting is that it often contains contradictions concerning investor positioning.
- Global Fund Managers are joining the AI boom, are heavily overweight tech stocks, but only 54% of them expect AI to boost company profits.
- We believe global fund managers are long tech stocks because of strong momentum and the market extrapolation of artificial intelligence impacting earnings and sales growth, not because of superior fundamentals.
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