Asia's Risk-On Rally Seems Unsustainable: BAML

In the absence of improving macro or earnings data, last month’s risk-on rally seems unsustainable, believe BAML analysts. Nigel Tupper and colleagues highlight in their March 8 research note titled “Unsustainable” their seven Asia Pac Quantessential Styles, which are designed to track a particular investment style. Asia Pac Quantessential Style performance differs from last two-year trends Tupper and team point out that their Asia Pac Quantessential Style includes 25 stocks and closely mirrors the region and sector weights of the MSCI APxJ. Elaborating further on the criteria for a stock to be included in their analysis, the BAML analysts point out that…