Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow
‘Sideways move’
BofA Securities’ global quantitative strategist Nigel Tupper’s latest report is entitled Sentiment Surge,
“The recent sideways move in our macro indicator – the Global Wave – indicates macro trends are somewhat ambiguous, but other global investment regime indicators are providing a more positive signal. The global earnings cycle remains robust with no sign of an earnings downturn. Additionally, our Global News Pulse (30-day) continues to rise on strengthening sentiment in stock-specific news and is now at a four-year high. Long-only positioning = Buying Asia, selling the US Year-to-date, long-only funds globally have bought shares in Asia ($94-billion) and sold shares in the U.S. ($164-billion) according to our analysis of 6,200 funds managing $36 trillion. Last month, long-only funds’ largest share…
