Fears of a hard landing are abating as growth has been surprising to the upside. New worries are emerging, such as the trajectory of disinflation, and the pace and timing of rate cuts. In this environment, it is important to build a…
Subdued credit growth and weak global trade will remain headwinds for Emirati stocks. Surging property prices, which have led to a boom in real estate stocks, will also peak soon. Stay neutral on this bourse. Sovereign credit…
Commodities are making headlines with the prices of crude oil, copper, and gold all making sizeable gains since mid-February. Multiple forces have been cited as drivers of the rally across these commodities. Increased…
Traditionally, equity managers have thought of oil equities as cyclical. This is because, in the past, oil equities had a strong positive correlation to the overall market. But US oil equities have increasingly become more…
Europe credit flows are stabilizing, hence a major drag on the region’s growth will dissipate. What does this development imply for European equities?
Gold prices reached $2300 per ounce for the first time on Wednesday. They have now rallied by more than 12% so far this year. To a degree the furious rally in gold has been puzzling. Who has been buying? It certainly has not…
Copper markets are fast approaching a price breakout, as Chinese smelters scramble to find ore to meet increasing refined-copper demand in the wake of a global manufacturing rebound. We are holding fast to our expectation of $4.50/lb…
The annual Prospective Plantings report released by the US Department of Agriculture (USDA) last week was slightly bullish for corn, neutral for soybeans, and slightly bearish for wheat. It forecasts a 5% drop in corn acreage, a…
According to BCA Research’s China Investment Strategy service, the growth rate of China’s infrastructure investment will likely slow from a nominal 9% last year to about 6% this year. Funding constraints will limit…
Oil prices surged over the past two days on the back of heightened geopolitical risks to supply following increased tensions in the Middle East. Both Iran’s Supreme Leader Ayatollah Ali Khamenei and President Ebrahim Raisi…