In a recent Insight we looked at the performance of equities following the start of monetary easing cycles. Specifically, we looked at the historical performance of US cyclical sectors versus defensive sectors at various points…
We are now more than midway through the Q4 2023 earnings season. Roughly two-thirds of the companies in the S&P 500 have released their earnings reports. It’s therefore worthwhile to stand back and observe some of the…
Prices of agricultural commodities have come under intensified downward pressure this year. Corn, soybean, and wheat prices have fallen by 8.6%, 8.3%, and 4.9% respectively so far this year. Multiple factors are behind the…
We highlighted in a recent Insight that positive economic surprises are prompting economists to revise up their US economic growth expectations. The Goldilocks narrative is supporting the rally in risk assets. However, results of…
The German economy was a laggard at the end of last year, posting a 0.3% q/q real GDP contraction in Q4 2023 while the broader Eurozone economy stagnated. Importantly, while economists have been revising up their 2024 forecasts…
BCA Research’s US Equity Strategy service created a sector selection scorecard based on performance of sectors under various macroeconomic regimes. The current macroeconomic backdrop is characterized by the following…
Indian economic data releases delivered a positive signal on Monday. CPI inflation slowed from 5.7% y/y to 5.1% y/y in January – within the Reserve Bank of India’s (RBI) 2-6% target range. Meanwhile, industrial…
Results of the US Conference Board’s latest quarterly survey show an improvement in sentiment among business leaders. The CEO Confidence measure rose above 50 for the first time in two years – indicating that…
Expectations that the Fed will successfully deliver a soft landing for the US economy remains the dominant narrative. Since August, economists have been revising up their 2024 US GDP forecasts with the consensus now anticipating…
According to BCA Research’s Emerging Markets Strategy service, barring a pullback in global share prices, Korean tech stock prices will likely have more upside this year. The memory chip market will improve in 2024,…