Special Report

Highlights Overall Investment Grade (IG) Corporates: An update of our regional sector relative value models shows that it has become increasingly difficult to find industries where debt looks cheap. Maintain overweight allocations to U…

Feature Table 1  Growth And Its Implications We still see little on the horizon to undermine a continued rally in risk assets over the next 12 months. U.S. economic growth will be propelled by an acceleration in both consumption…

GAA DM Equity Country Allocation Model Update The model has increased its allocation to Netherland, Italy, France and Germany, the underweight in Australia is also reduced by half. All these are financed by a large reduction in the U.S.…

Special Report

Dear Client, I will be visiting clients in Asia over the next ten days, so we are sending you this week's report a bit ahead of schedule. In addition, at the end of this report, we are including the recommendations from our tactical…

Special Report

This month's Special Report was written by Peter Berezin, Chief Global Strategist for BCA's Global Investment Strategy Service. The report is a companion piece to last month's Special Report, which argued that some of the…

Highlights Reflation Trade: The backdrop for global growth and monetary liquidity remains positive, and suggests that risk assets will outperform government debt for the balance of 2017. However, there are some early signs of fading…

Highlights Portfolio Strategy Downgrade communications equipment stocks to underweight. All three end-markets are weak and signal that profits will continue to surprise to the downside. Continue to avoid the electrical components…

Highlights U.S. Politics: We recommend that investors look through the political noise in D.C., which is unlikely to arrest the current cyclical economic upturn. Maintain a pro-growth asset allocation within fixed income portfolios:…

Highlights Portfolio Strategy Upgrade packaged food stocks to overweight. Enough value creation has occurred to create an attractive entry point in this consumer goods sub-index. Our tactical overweight in the S&P utilities…

Highlights Duration: The opposing forces currently pulling on global bonds - softer growth and core inflation readings vs. tightening labor markets - are keeping yields locked into narrow trading ranges. We expect the strength of the…