Highlights Geopolitical risk is rising once again after a big drop-off in risk during the pandemic and snapback. The Biden administration faces three critical foreign policy tests: China/Taiwan, Russia/Ukraine, and Israel/Iran.…
Dear Client, Next week I will be hosting a series of Roundtable discussions with BCA’s clients in both Europe and Asia. Our next report published on April 28th will be a recap of my observations from these meetings. Best regards…
Highlights Global Inflation: The case for maintaining a strategic overall allocation to inflation-linked bonds (ILBs) versus nominal government debt in dedicated global fixed income portfolios remains intact. Global growth expectations…
According to BCA Research’s Foreign Exchange Strategy service, the Swiss National Bank welcomes the recent weakness in the franc , but technicals suggest a tactical rally in CHF is likely. The Swiss franc has been one of…
Highlights The Swiss economy will benefit from the pickup in global growth. The recent weakness in the franc has been a welcome development for the Swiss National Bank, but technicals suggest a coiled spring rally in CHF is likely.…
The yen has been the worst performing G10 currency this year, falling 5.4% versus the US dollar since the beginning of the year. However, it bottomed on March 31 and has since gained 1.4%, making it among the best performers in…
As expected, the Reserve Bank of India kept the benchmark repurchase rate unchanged at 4% at its Wednesday meeting. Nonetheless, the RBI managed to surprise investors by announcing plans to purchase up to one trillion rupees ($14…
Feature The selloff in Chinese stocks since mid-February reflects a rollover in earnings growth and multiples. Lofty valuations in Chinese equities driven by last year’s massive stimulus means that stock prices are vulnerable to any…
BCA Research’s Foreign Exchange Strategy service concludes that the dollar remains in a sweet spot for now, but it could nonetheless experience violent moves in the coming weeks. Thus, they are opening a short EUR/JPY…