Highlights Dear Client, The Global Fixed Investment Strategy will not be publishing next week. Our regular publishing schedule will resume on September 12, 2017. Jackson Hole: Last week's Fed conference did not produce any…

Special Report

Highlights GFIS Portfolio: The GFIS model bond portfolio has lagged its benchmark index since inception last September and since our previous performance update in April. All of that underperformance can be accounted for this month,…

Special Report

Highlights Over the years, BCA has created numerous macro (and other) indicators and models to forecast U.S. equity markets. These models are designed to include both cyclical and structural cycles, i.e. mini-cycles within longer-term…

The GAA DM Equity Country Allocation model is updated as of July 31st, 2017. The model has continued to reduce its allocation to the U.S. and now the U.S. allocation is the largest underweight. The funds from the U.S. are largely used to…

Special Report

The performance of European stocks relative to the U.S. has been dismal in the post-Lehman period. However, the Eurozone economy is performing impressively, profit growth is accelerating and margins are rising. This points to a period…

Highlights Major central banks outside the U.S. have fired a warning shot across the bow of global bond markets by signaling that "emergency" levels of monetary accommodation are no longer required. Pipeline inflation…

Special Report

Highlights Trading The Yield Curve: Butterfly trades, going long or short a bullet versus a barbell, offer exposure to changes in the slope of the yield curve while remaining insulated from small parallel curve shifts. This will always…

Special Report

We are pleased to introduce version 2.3 of ETS. This version brings an important new addition to the platform: the ability to backtest your own strategies. As of today, you have access to our online backtesting tool as part of your…

Highlights BCA's Central Bank Monitors support the case for less stimulus. Yellen's "dovish" testimony does not change our Fed call. The BCA Beige Book Monitor and related indicators support our view on the economy…

Highlights Portfolio Strategy The energy bear market is drawing to a close. Lift exposure to above benchmark. Firming refining operating conditions, at the margin, suggest that it no longer pays to underweight this energy sub-group.…