The Fed’s latest Beige Book reveals that economic activity rose slightly in recent weeks. The results are based on surveys and interviews conducted across 12 districts through June 30. In particular, two of the districts…
BCA’s Global Asset Allocation service (GAA) recommends a defensive multi-asset portfolio allocation due to a high probability of recession. However, our colleagues also add a hedge to manage upside risk because they do not…
BCA Research’s Commodity & Energy Strategy service concludes that strong EM demand coupled with OPEC+’s production cuts will help boost oil prices in the coming months. EM oil demand growth continues to power…
In this report, we explore Brazil’s inflation and monetary policy outlook, the Lula administration’s back-and-forth between pragmatism and populism, and how these factors will affect Brazilian financial markets going forward. All in…
Falling inflation enables central banks to pause rate hikes, which is good news. But time goes on. Restrictive monetary policy, Chinese debt-deflation, energy supply shocks, US and global policy uncertainty, and extreme geopolitical…
The June US CPI release showed inflationary pressures cooled last month. The headline index moderated from 4.0% y/y to 3.0% y/y – slightly below expectations of 3.1% y/y. Similarly, core CPI growth eased from 5.3% y/y to 4.…
As expected, the Bank of Canada raised interest rates for the second consecutive month after restarting its tightening campaign last month. At 5.0%, the policy rate now stands 4.75 percentage points above where it was at the…
Wheat, corn, and soybean all traded lower at the Chicago Board of Trade on Wednesday following the US Department of Agriculture’s latest release of its monthly World Agricultural Supply and Demand Estimates (WASDE) –…
The Q2-2023 earnings season will kick off this Friday. The following are the investors’ “Cliff notes” to this earnings season. Market Expectations Earnings growth: According to Refinitiv IBES, earnings…
According to BCA Research’s China Investment Strategy team, China’s fiscal support will be limited due to political and economic factors. China has heavily relied on government expenditure support to sustain its…