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Callum Thomas

Market Cycle Guidebook - January 2022

We just published our latest "Market Cycle Guidebook", which is one of the main reports in our institutional investment research service.

​​The monthly Market Cycle Guidebook is designed to be a practical & tactical asset allocation guidebook for global multi-asset investors.


It focuses on illuminating the key drivers of risk and return across a global multi-asset universe, with the intention of generating actionable conclusions and meaningful insights for medium-term active asset allocation decisions.

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Key features of the Market Cycle Guidebook: -Front page snapshot summary on the global economic cycle, monetary policy, and valuations -Market performance snapshot & commentary /highlights -Summary views across asset classes (short and medium term); basically an "AA cheat sheet"

-TAA/DAA guide visually mapping those views -Monthly updated Capital Market Assumptions -And of course, over 70 charts illuminating the key medium-term drivers of risk and return across a global multi-asset universe

-Australia/New Zealand appendix (since we're down this part of the world!)

>> Some of the key takeaways from the latest edition:


-Global economic recovery remains largely on-track

--but some of the big tailwinds are starting to fade

---rising bond yields, rate hikes in EM, falling fiscal impulse

--meanwhile inflation pressures remain intense

---backlogs/supply disruption continues to bite

---some measures of capacity utilization have bounced back sharply

----capitulation on the term "transitory"

--increasing risk of a policy mistake as central banks walk a fine line

---monetary policy is now a source vs suppressor of volatility


-Remain overweight growth assets vs defensive assets

---BUT with some key tactical nuance to that

--longer cycle is still in play; favoring growth assets

---increasingly focused on short-term risk signals and cycle map

--paying closer attention to old reliable signposts for the macro/market cycle

--short-term focused on the risk outlook in EM, bonds, and US equities

---mindful that our bond market risk indicators are still sounding warnings

----keeping risk management front and center in the immediate term


The report is designed for active asset allocators, and professional investors who require top-down input in their investment process.


If you are interested in learning more about this report and our services, I suggest you get set up for a trial today.

If you have any questions or requests, just get in contact.


Best regards,

Callum Thomas

Head of Research and Founder

>> To request a copy of the report, subscribe, or take a trial, please fill in the form here.

About the Service:

Our institutional service caters to multi-asset portfolio managers and investment professionals. The service comprises a set of reports (2 weekly, 1 monthly, 1 quarterly) and personalized service to help make the portfolio managers' job easier. With the service we deliver a flow of investment ideas, risk management input, and meaningful macro insights.

Our Head of Research and founder spent his career on the buy-side, and our reports reflect that perspective with a clear "so what?" focus rather than research for research sake. The reports are punchy and chart/fact focused, and are easy to read both in terms of speed and understanding: so clients often end up saving time and getting better insights. So if you're looking for a dedicated and specialist service to help you deliver excellent returns for your clients, give us a try.

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