Some of the biggest US banks will kick off the reporting season in earnest this Friday, leading increased market focus on Q1 2024 earnings. According to Factset, analysts expect S&P 500 year-over-year earnings growth to…
Italy and Spain have a poor reputation when it comes to their economies. The European debt crisis affected them more than other Euro Area countries. Their housing markets collapsed and debt cost soared. France and Germany, while…
The NFIB’s small business optimism index decreased by 0.9 points to 88.5 in March, missing expectations of 89.9, and reaching its lowest level since 2012. A few things stood out from the report: Labor market…
Fears of a hard landing are abating as growth has been surprising to the upside. New worries are emerging, such as the trajectory of disinflation, and the pace and timing of rate cuts. In this environment, it is important to build a…
According to BCA Research’s US Bond Strategy service, until labor market cracks emerge, the path of least resistance for bond yields is probably higher, but the potential near-term upside in yields is limited. The team…
The recent rise in market-based inflation expectations has caught the attention of market participants. Some investors have begun to worry that the Federal Reserve might be losing control of its inflation mandate by cutting rates…
German industrial production growth accelerated from an upwardly revised 1.3% m/m to 2.1% m/m in February, registering the fastest pace in 13 months and largely beating expectations of a slowdown. A 7.9% m/m increase in the…
Europe credit flows are stabilizing, hence a major drag on the region’s growth will dissipate. What does this development imply for European equities?
BCA Research’s Foreign Exchange Strategy service maintains a neutral view on the dollar for the next three months. The team continues to believe that the dollar is due for a long-term bear market, but momentum is in…
The past week brought a slew of positive US economic data, all suggesting that conditions remain robust and a recession is not imminent. The ISM Manufacturing PMI crossed into expansion for the first time since September 2022,…