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  4. Not time to allocate to growth — Sevens Report Research
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Not time to allocate to growth — Sevens Report Research

By Sam Boughedda In a note Wednesday morning, Sevens Report Research said the start of 2023 isn't the time to allocate to growth. In this morning's research note, the firm stated...
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Not time to allocate to growth — Sevens Report Research © Reuters. Not time to allocate to growth — Sevens Report Research

By Sam Boughedda

In a note Wednesday morning, Sevens Report Research said the start of 2023 isn't the time to allocate to growth.

In this morning's research note, the firm stated that while they appreciate the argument that growth is the "cheapest it's been in years," it isn't a reason to buy something.

"There has to be a looming positive catalyst and the bottom line is the looming macroeconomic setup still isn't favorable for growth," they wrote.

The group outlined three factors it believes are needed for growth to flourish, including quickly falling or low interest rates, normal economic growth, and geopolitical calm. However, as Sevens points out, the current backdrop provides none of the factors mentioned.

"As we begin 2023, it's almost the exact opposite: 1) Rates are not falling quickly, are a long way from "low" and aren't getting there anytime soon, 2) Growth is "normal-ish" for now but the economy will likely enter a recession within the first six months of 2023 and 3) Geopolitics aren't calm and aren't moving that way anytime soon."

"The simple truth is that the macroeconomic conditions that resulted in growth underperformance in 2022 are still in place, and for us to confidently buy the dip in growth we need to see those conditions change and get more favorable for growth stocks."

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01-05-2024 10:45:17 (UTC+7)

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-0.0008 (-0.07%)

Summary

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Moving Avg:

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Indicators:

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EUR/USD

1.0658

-0.0008 (-0.07%)

Summary

↑ Sell

Moving Avg:

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-0.0015 (-0.12%)

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USD/JPY

157.91

+0.12 (+0.07%)

Summary

↑ Buy

Moving Avg:

Buy (12)

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Indicators:

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AUD/USD

0.6469

-0.0003 (-0.05%)

Summary

Neutral

Moving Avg:

Buy (10)

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Indicators:

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USD/CAD

1.3780

+0.0003 (+0.03%)

Summary

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Moving Avg:

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EUR/JPY

168.32

+0.10 (+0.06%)

Summary

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EUR/CHF

0.9808

+0.0001 (+0.01%)

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Gold Futures

2,295.80

-7.10 (-0.31%)

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Silver Futures

26.677

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Copper Futures

4.5305

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81.14

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Brent Oil Futures

85.62

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Euro Stoxx 50

4,920.55

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5,035.69

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DAX

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FTSE 100

8,144.13

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Hang Seng

17,763.03

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US Small Cap 2000

1,973.05

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IBEX 35

10,854.40

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49.155

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27.35

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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