Highlights Recommended Allocation The outlook for markets over the next few months is highly uncertain. On the optimistic side, new COVID-19 cases are probably close to peaking (for now), and so equities could continue to…
Yesterday the OECD released its estimate of the economic impact of COVID-19 lockdown policies around the world. The sobering conclusion of the OECD’s work is that the initial direct impact of the shutdowns could be a decline in the…
Our strategists are not epidemiologists, and neither are most of our clients. To get answers to the many outstanding questions about COVID-19, yesterday, BCA Research published a Q&A with immunologist and Nobel laureate…
We noted in an Insight earlier this week that the US appears to be following Italy’s COVID-19 experience by roughly two weeks. The chart above makes this point more directly by comparing the US and Italian COVID-…
Highlights Chinese stocks have outperformed global benchmarks by a wide margin. We are taking profits on our overweight position, and downgrading our tactical call on Chinese stocks to neutral. In absolute terms, Chinese stocks have…
The number of confirmed COVID-19 cases has become the primary driver of global macroeconomic activity. The breadth and pace of new infections will determine whether medical experts are likely to agree that physical distancing…
Dear client, Next Monday instead of sending you a Weekly Report we will be hosting a live webcast at 10am EST, addressing the recent market moves and discussing the US equity market outlook. Kind Regards, Anastasios Highlights…
Dear Client, I will be discussing the economic and financial implications of the pandemic with my colleague Caroline Miller this Friday, March 27 at 8:00 AM EDT (12:00 PM GMT, 1:00 PM CET, 8:00 PM HKT). I hope you will be able to join…
Highlights The pillars of dollar support continue to fall, but the missing catalyst is visibility on the trajectory of global growth. For now, we remain constructive on the DXY short term, but bearish longer term. Market internals…