The global macroeconomic environment materially deteriorated in May-June. This was countered by a significant change in monetary policies globally towards an ultra-dovish central banking stance, which led to a breakdown in USD and stealth rally in defensive interest rate sensitive sectors (Utilities and REITs) while cyclicals underperformed. In Q2, our outlook was overweight on Medtech/Biotech with a view that it’s a sector where under-the-radar sustainable growth opportunities can be found irrespective of a macroeconomic slowdown. This view paid off beautifully with incredible returns. We thrive by always seeking answers in the early stages of an investment opportunity or cyclical turn. Our Q3 Macroeconomic Outlook and Top Investment Ideas is available now.
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This information is not an individual investment recommendation, and the financial instruments or transactions mentioned in it may not correspond to your investment profile and investment goals (expectations). It is your task to determine whether a financial instrument or transaction matches your interests, investment objectives, investment horizon and acceptable risk level. AVC Adisvory, Inc. and its affiliates are not liable for possible losses in case of making transactions or investing in the financial instruments mentioned in this information, and do not recommend using this information as the only source of information when making an investment decision.