Neutral Yesterday's news that Disney was buying key media content assets from Twenty-First Century Fox, including movie studios and some cable properties, came as a surprise to few following longstanding rumors the assets were for…
We downgraded the S&P homebuilders index to underweight last week, owing to three factors: higher interest rates on the back of a pickup in inflation expectations, the threat to mortgage deductibility in pending tax reform and sky-…
Neutral Cable & satellite stocks received a much-needed boost last week when it was announced that the head of the U.S. Federal Communications Commission planned to scrap the landmark 2015 rules to guarantee net neutrality. Such a…
Underweight Higher interest rates on the back of a pickup in inflation expectations is another BCA theme that should materialize in 2018. Tack on high lumber prices and likely tax reform blues and the S&P homebuilders index, the…
Highlights Portfolio Strategy Synchronized global capex growth, a derivative of BCA's synchronized global growth thesis, will be a dominant theme next year, benefiting cyclicals over defensives. Three high-conviction calls are…
The shares of movie & entertainment firms have been under pressure in the last several weeks, despite what has generally been a positive Q3 earnings print, driven down by speculation the AT&T/Time Warner merger may be blocked by…
Highlights Broad Chinese equity market performance since last month's Party Congress is consistent with our view that the pace of reforms over the coming year will not cause a meaningful deceleration in China's industrial…
U.S. home sales have been soaring, with new single-family homes reaching a 10-year high in September, driven by still-low financing costs and peaking consumer sentiment. This surging housing demand which includes temporary hurricane…