We created a sector selection scorecard based on performance of sectors under various macroeconomic regimes while taking into consideration revisions to expected earnings growth and valuations in a historical context. Our total…
China’s credit data update for January delivered a mixed signal on Friday. The CNY 6.50 trillion increase in aggregate financing beat expectations of CNY 5.60 trillion and marked a significant acceleration from CNY 1.94…
The latest Canadian data suggest that although demand is cooling down, the Canadian economy is not in freefall. The unemployment rate fell for the first time since December 2022, declining by 0.1 percentage points to 5.7%,…
Over the past few months we have been highlighting that there are some budding signs of a recovery in global manufacturing activity. Most notably, the new orders-to-inventories ratio of Sweden’s manufacturing PMI has been…
Our Emerging Markets team believes that the risk-reward profile of the US dollar remains very attractive. First, if US growth stays robust, US interest rate expectations will rise because rate cuts priced in will not be…
BCA Research’s Global Investment Strategy service’s revised forecast is centered on a recession starting in late 2024 or early 2025. The strong pace of US growth has continued into early 2024. Preliminary estimates…
Thursday’s Chinese CPI and PPI release for January indicates that deflationary pressures continue to dominate the domestic economy. On the consumer side, prices registering the fastest pace of annual decline in 15 years.…
Last Friday’s blockbuster US employment report is among the recent data releases that have focused investors’ attention on the possibility that resilient economic conditions will reduce the magnitude of Fed easing…