Global Macro Strategy

What Does Global Macro Strategy Mean?
A hedge fund strategy that bases its holdings--such as long and short positions in various equity, fixed income, currency, and futures markets--primarily on overall economic and political views of various countries (macroeconomic principles).

Investopedia explains Global Macro Strategy
For example, if a manager believes that the U.S. is headed into recession, then he or she might short sell stocks and futures contracts on major U.S. indexes or the U.S. dollar. Or, a manager seeing big opportunity for growth in Singapore might take long positions in Singapore's assets.