Caterpillar’s Q2 earnings results released on Tuesday beat consensus estimates by a wide margin. Second quarter profit of $2.92 billion ($5.67 per share) came in well above expectations of $2.38 billion ($4.46 per share).…
According to BCA Research’s Emerging Markets Strategy service, while EM ex-China markets are set to continue outperforming Chinese investable/offshore equities, they are unlikely to deliver superior absolute returns.…
According to BCA Research’s China Investment Strategy service, Beijing’s investment focus is shifting from traditional infrastructure to new economy infrastructure, which includes clean energy and high-tech sectors…
The US is not out of the woods when it comes to inflation, which means that it is too early to conclude that the Fed can stop raising rates. Any further increase in inflation risk would prompt us to turn more cautious on stocks.
Among the critical materials needed for the global energy transition, Li is expected to see the largest increase in demand from 2022 to 2050. Li supply is not constrained, but continued investment in mining and refining will be…
Stay cautious on Chinese stocks. Equity investors should use any rebound in onshore stock prices to downgrade A-shares from overweight to neutral within global and EM equity portfolios. Remain underweight Chinese investable/offshore…
China’s Politburo meeting delivered a disappointing signal about Beijing’s willingness to deliver meaningful stimulus. Although policymakers pledged support for domestic demand, consumer sentiment, and risk prevention…
China’s economy is cruising at a very low altitude where gravity forces are intense. Downbeat consumer and business sentiment will reduce the effectiveness of stimulus. Anything short of “irrigation-style” stimulus will be…