Dear clients, China Investment Strategy will take a summer break next week. We will resume our publication on September 9th. Best regards, Jing Sima, China Strategist Highlights The threat of US sanctions has sparked fears…
Since 2018, China has been promoting its own domestic cross-border interbank settlement system (CIPS). It is not BCA Research's baseline view that the US will cut off Chinese banks entirely from access to the US Clearing…
Yesterday’s Ifo survey of German Business Confidence was promising. The business climate index rose for the fourth consecutive month in August to 92.6, topping the 92.1 consensus forecast. The current assessment component…
Highlights Portfolio Strategy Softening operating metrics, the falling US dollar, the reopening of the economy, all suggest that investors should avoid hypermarket stocks. A firming macro backdrop, the USD’s recent drop, along…
BCA Research's Foreign Exchange Strategy service examines various options available to the HKMA to adjust the HKD peg. On sensible option would be to peg the HKD to the Chinese RMB. The Hong Kong economy is now heavily…
Dear clients, The Foreign Exchange Strategy will take a summer break next week. We will resume our publication on September 4th. Best regards, Chester Ntonifor, Vice President Foreign Exchange Strategy Feature The economy of Hong…
The S&P 500 continues to power ahead. Yet, short-term sentiment measures, such as the Exposure Index of the National Association of Active Investment Managers or the put-to-call ratio, consistently indicate an elevated…
The second wave of COVID-19 infections in the US has been disasterous, but new cases seem to have peaked around July 16th. Meanwhile, the second wave of infections is currently gathering steam in Europe. This differentiation will…
Many commentators have become worried that the euro may soon top because the broad trade weighted euro tracked by the ECB is flirting with all-time highs and because net speculative positions in the euro stand at a record.…