Special Report

Feature This is the first of two Special Reports on Electric Vehicles. In this report, we will look at the current costs of ownership of a typical mass-market EV, including and excluding subsidies, versus a similar Internal Combustion…

Overweight The cable & satellite index heavyweights Comcast and Charter Communications both reported their results last week, announcing that they had churned 34,000 and 90,000 of the traditional video customers, respectively.…

Special Report

Dear Client, Over the next three weeks, much of BCA’s Geopolitical Strategy team will be traveling in Australia, New Zealand, and Asia. As such, we are taking this week off from publication and will return to our regular schedule…

In what is becoming a familiar refrain, Amazon announced they were entering an established business and the existing competitors saw their share prices tumble. This time it was appliance retail and manufacturers with the deployment…

Our Consumer Discretionary Cyclical Macro Indicator (CMI) has snapped back after a tough year, driven by improving real wage growth. Higher home prices, a tighter labor market and increasing disposable income have consumers feeling…

Highlights Key Portfolio Updates Synchronized global economic growth is driving real yields higher and boosting equities (Chart 1). Meantime, core inflation remains muted which will ensure that Fed policy stays sufficiently…

U.S. light vehicle sales continued their slump last month, falling to the lowest annual rate since 2014; full-year forecasts have been revised downward across the board. This year has seen banks significantly tighten vehicle-related…

2017 has been a tough year for movies & entertainment. The index has been in a steady downdraft and is now probing 5 year lows. Yesterday's U.S. consumer confidence number could presage an inflection point. Consumers are feeling…

This week's housing data has told a story of increased activity in existing homes and wider financing availability; both are at their highest levels since emerging from the financial crisis (second panel). Importantly, mortgage…

Neutral One quarter ago, we posited that the consolidation phase in the broad consumer discretionary sector restored value and created an attractive entry point and an upgrade in the S&P restaurants sub-index provided an attractive…