The first two regional fed manufacturing surveys for February delivered strong upside surprises. The New York Fed’s Empire Index surged from -43.7 to -2.4, unwinding its January slump. Similarly, the Philly Fed current…
The US retail sales report for January delivered a disappointing message about consumer spending. The 0.8% m/m drop in overall retail sales was worse than expectations of a 0.2% m/m decline and marked the most severe monthly…
According to BCA Research’s Counterpoint service, European stocks will be the big winners of the 2020s. Every decade has a big loser and a big winner. Which stock market will be the winner through the remaining two-…
We are now more than midway through the Q4 2023 earnings season. Roughly two-thirds of the companies in the S&P 500 have released their earnings reports. It’s therefore worthwhile to stand back and observe some of the…
In a recent Insight we looked at the performance of equities following the start of monetary easing cycles. Specifically, we looked at the historical performance of US cyclical sectors versus defensive sectors at various points…
The UK inflation release for January came in slightly softer than anticipated. Both headline and core CPI were unchanged on year-over-year basis at 4.0% and 5.1%, respectively – below expectations of slight accelerations.…
Comments on yesterday’s CPI report and yield moves.
Our Valentine’s Day report is about two love stories: the infatuation with US tech and China’s infatuation with housing. We describe how these love stories will end, and why Europe could be the winner.
BCA Research’s US Equity Strategy service created a sector selection scorecard based on performance of sectors under various macroeconomic regimes. The current macroeconomic backdrop is characterized by the following…
The Swiss franc is among the worst performing major currencies so far this year. This marks a reversal following its stellar performance last year. The Swiss National Bank’s (SNB) support for the domestic currency…