The 2023Q4 earnings season is drawing to a close with over 80% of S&P500 companies having reported results. However, the three main providers of aggregate earnings data are posting significant variations. Indeed, IBES…
At the headline level, US equity indices are on a tear with the S&P 500 forging a fresh all-time high last week and the NASDAQ on the verge of overtaking its November 2021 record close. However, the rally remains quite narrow…
The FTSE 250 has been outperforming the FTSE 100 since late October 2023, with the former gaining 13.7% versus 3.9% in the case of the latter over this period. To the extent that UK small cap stocks are more exposed to…
Monday’s release of the Dallas Fed’s manufacturing index corroborates the signal from other regional Fed surveys that manufacturing conditions are picking up in the US. The headline Current General Business Activity…
The first in a series of Strategy Insights where we present a checklist for extending duration in each major government bond market. This first entry focuses on the US.
Outside of Germany, European growth fares better than many believe. Will this hidden resilience help the euro and push German yields higher?
According to BCA Research’s US Investment Strategy service, investors should take care not to read too much into the recent easing in financial conditions. According to Goldman Sachs’ Financial Conditions Index (…
In a recent Special Report, BCA’s Foreign Exchange Strategists update their long-term fair-value models for the real effective exchange rate. The model aims to capture deviations from the long-term drivers of a currency,…
While efforts by policymakers to stabilize the stock market are buoying Chinese equities, domestic economic data remains soggy. Home prices declined further on both a monthly and annual basis in January, reinforcing the…
The messaging from the minutes of the ECB’s January meeting was similar to the Fed. Although Governing Council members noted that “for the first time in many meetings, the risks to reaching the inflation target were…