For the past year, relatively large downward revisions have been key features of the monthly US nonfarm payrolls reports. Friday’s release was no exception. Although it showed the magnitude of job gains beat expectations in…
Japanese equities and government bonds sold off on Monday and the yen strengthened following the release of the revised Q4 GDP report showing the economy expanded by an annualized 0.4% q/q in Q4 2023 versus earlier estimates of a…
According to BCA Research’s European Investment Strategy service, last week’s ECB meeting confirmed their long-held view that the most likely date for the first ECB rate cut would be June. The ECB continues to…
We are pushing back the anticipated start date for a Eurozone recession and assessing how it affects our equity stance.
As we discussed in a recent Insight, the krone is the top pick for our Foreign Exchange Strategy team. The krone upgrade is one of the most significant changes in our colleagues’ attractiveness ranking model. Norway has the…
2023 was a year of mystery for the copper market. On the one hand, China’s copper intake boomed last year despite the travails of the mainland economy and shrinking property construction. On the other hand, global copper…
According to BCA Research’s US Political Strategy service, the Democrats are still favored for reelection due to the resilient economy, but President Biden’s victories on Super Tuesday had not positively affected his…
According to Factset, analysts are forecasting S&P 500 earnings and revenues to grow by 11.0% y/y and 5.0% y/y respectively in 2024 (an acceleration from 0.9% and 2.8% in 2023). Information technology and communications…
This week, we review our currency positions, based on the latest data from G10 economies.
Presently, our four high-conviction themes are: (1) the US dollar will rally as US growth continues to outpace the rest of the world; (2) US equities will continue to outperform EM and European stocks until a major sell-off occurs; (…