Highlights Markets largely ignored the uproar at the US Capitol on January 6 because the transfer of power was not in question. Democratic control over the Senate, after two upsets in the Georgia runoff, is the bigger signal. US…
The Swedish PMIs have been extraordinarily strong in December, jumping near 65, or levels normally associated with maximum output growth for the manufacturing sector. Historically, the momentum in the Swedish krona relative to…
Highlights An uninterrupted advance in reflation trades will be possible if the FOMO (fear of missing out) evolves into a full-blown mania. This scenario cannot be ruled out especially with retail investors around the world continuing…
Dear Client, The US Capitol is going on lockdown as we write to introduce BCA Research’s newest investment service, US Political Strategy, in this inaugural report. US Political Strategy will provide timely and actionable policy…
Feature Chart 1Stock Prices Are Struggling To Break Out Of Their Recent Highs Stock prices in China's onshore and offshore markets rallied into the New Year (Chart 1). Despite the strong performance in the last couple of…
Bitcoin prices have experienced a spectacular rise since December, hitting an all-time high above $34,500 on Sunday before declining to hover around $31,000. However, Bitcoin’s “fractal dimension” is flashing a…
Can the dollar weakness continue in 2021? Economic forces suggest that the most likely outcome is further depreciation. The dollar is a counter-cyclical currency and the continued recovery this year will weigh on the Greenback.…
The reflation trade remained the dominant theme for markets this December. The dollar suffered the largest negative abnormal returns of all the major asset classes while EM equities and gold offered the strongest risk-adjusted…
Dear client, This is our final publication of the year. We thank you very much for your continued readership, and extend our best wishes for a safe and prosperous new year. Chester Ntonifor, Vice President Foreign Exchange Strategy…