Investment thesis: The international markets are still in a difficult situation but things are moving in the right direction. The China long (FXI) and Brazil short (EWZ) trades are still attractive. Chinese data is improving and tensions with the US are giving way to a bilateral pragmatism. Brazil is still experiencing political turmoil and a weakening economy. As other economies and regions reopen, the possibility of a rising equity market increases. Keep an eye on Europe and the all-Asia-ex-Japan ETF.
This week, several central banks had meetings. Let's start with the