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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US
- In the past few weeks, we have seen that the deceleration in 'global liquidity' (annual change in major CB assets) has led to a halt in the momentum on mega-cap growth stocks; FANG+ index has been moving sideways its their peaked reached in mid-February, oscillating between 6,000 and 7,000.
- Since the start of the year, investors have been arguing that the rise in inflation was going to result in a 'Great Rotation' from tech and growth stocks to value stocks, which have been constantly underperforming in the past cycle.
- Interestingly, this chart (source: BoA) shows that the 6-week cumulative outflow in tech stocks has been the largest since January 2019 (following strong selloff in Q4 2018).
- With recent 'hawkish' tone from US policymakers, rising uncertainty, contracting Chinese liquidity and increasing outflows, are tech stocks under pressure in the near to medium term?
Source: BoA
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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