Highlights On a 2-3 year horizon, stay overweight the US stock market, in absolute terms and relative to the non-US stock market… …and stay overweight the US dollar. A good model for the US stock market is the 30-year T-…
Highlights Despite strong economic activity throughout most of 2021, economic surprises have decreased considerably. This helped the US equity market outperform Europe. It also significantly contributed to the euro’s…
Highlights US growth will slow next year, not because demand will falter, but because supply-side constraints will prevent the economy from producing as much output as households and businesses want to buy. If aggregate demand…
Dear client, This week, we are introducing our new “Currency Month-In-Review” report. The new format should dovetail nicely with the historical back sections you have become accustomed to, but with a more holistic approach to…
Rising inflationary pressures are seeping into Aussie inflation expectations which according to the Melbourne Institute reached 4.6% in November. Nevertheless, the RBA pushed back against market rate hike expectations at last…
EUR/USD continued to weaken on Thursday after collapsing 0.57% to a new 2021 low in the previous day. Notably, the cross breached the 1.15 technical resistance level which raises the risk that it will continue to fall over the…
Highlights So far, both the demand and supply side of the Philippine economy have been rather weak; yet there are signs that growth is set to revive. Fiscal expenditures have bottomed. Bank lending is also reviving. Acceleration in…
BCA Research’s Geopolitical Strategy service concludes that there is a tactical opportunity in Japanese equities. Japan’s ruling Liberal Democratic Party retained its single-party majority in the Diet in the…
The markets were deluged by a lot of information in late October. Several central banks made surprise moves towards tightening (the Bank of Canada, for example, ended asset purchases, and the Reserve Bank of Australia…