In today’s briefing:
- SPX Hard Close as Defensives Begin to Bend
- Index Rebalance & ETF Flow Recap: MSCI, STI, FTSE China 50, Ramsay Health Care
- ClearBridge Investments Select Strategy Q1 2022 Commentary
- ClearBridge Investments Global Growth Strategy Q1 2022 Commentary
SPX Hard Close as Defensives Begin to Bend
- SPX closing on Friday’s lows after an impulsive drop sets a more bearish tone for an undershoot barring an impressive recovery.
- The undertone of the market shifted on Friday as defensive sectors took a hit. If this continues it would induce a broader market sell off (bigger breakdown).
- Russell 2000 1,900 is the level to watch to lead a harder US cycle decline followed by NDX 13k dual lows. Cycle inflection timeline.
Index Rebalance & ETF Flow Recap: MSCI, STI, FTSE China 50, Ramsay Health Care
- The review period for the price cutoff of the MSCI May SAIR commenced last week and will run through the coming week. MSCI normally chooses a day from week 1.
- Yangzijiang Financial Holding Ltd (YZJFH) will list on 28 April and one stock will be deleted from the FTSE Straits Times Index (STI) (STI INDEX) at the close on 4 May.
- There were inflows to China and Taiwan focused ETFs, while there were outflows from Korea focused ETFs.
ClearBridge Investments Select Strategy Q1 2022 Commentary
- ClearBridge is a leading global asset manager committed to active management.
- The Strategy’s overweight in growth and smaller cap stocks caused it to endure the worst of the selling pressure facing these areas.
ClearBridge Investments Global Growth Strategy Q1 2022 Commentary
- A sharp spike in bond yields pressured growth stocks and weighed on Strategy performance against its core benchmark, where leadership was decidedly one-sided in favor of value.
- Nevertheless, we remain positive on areas like the IT sector and have largely maintained holdings in our highest-conviction ideas.
Before it’s here, it’s on Smartkarma
