The Citi quartet under Jeremy Hale, which debuts in third place, produces research with a “very thoughtful macroeconomic outlook, which is well explained with plenty of insightful context to bolster its views,” according to one New York–based money manager. The strategists, who work out of London, see little cause for local optimism. Instead, they are telling investors to put money into equities in emerging markets, especially China, and in the U.S., which is undergoing “a shallower recession and better recovery” than Europe, Hale says. The team’s best idea for Europe is a tactical trade that’s a combination of being long euros and front-end rates in Europe, given the currency’s medium-term position of strength against the dollar, the pound and the yen, on the belief that core fixed income in Europe will outperform core fixed income in the U.S. — Carolyn Koo
Francisco Blanch, Barnaby Martin & team Bank of America Merrill Lynch Andrew Sheets & team Morgan Stanley |
Economics & Strategy – General Strategy: Third