Chief Investment Strategist
Summary: The 'bounce back basket' is down 14% since March 9 but we the latest policy moves it may soon be time for investors to increase exposure to high quality and beaten down stocks.
The ‘bounce back basket’ was introduced on March 9 as the sharp selloffs in equities made us come up with a list of 20 high quality equities in the US and Europe that investors should look if the market continued to fall. The stocks in the list are meant as inspiration and not recommendations to buy. Investors should do their own analysis.
As of yesterday’s close the ‘bounce back basket’ was down 14% on average in local currency with ConocoPhillips (COP:xnys) and Align Technology (ALGN:xnas) being down the most. With the policy moves in the last 24 hours from the Fed starting a Money Market Funds Liquidity Facility, ECB launching a €750bn quantitative easing programme in bonds and RBA announcing effectively yield curve control on 3-year government bonds there is definitely scope for some risk-on sentiment.
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