There is no easy way for China to forestall deflation. Provided policymakers are still reluctant to unleash large-size stimulus, more economic disappointments are likely in the coming months, and Chinese stocks will continue to sell…
According to BCA Research’s Global Investment Strategy service, labor demand can fall even in a full-employment economy. Investors often focus on the unemployment rate as a gauge of how strong the labor market is. The…
Ahead of today’s Bank of Canada (BoC) meeting and the Reserve Bank of Australia (RBA) meeting on February 6th, our Global Fixed Income Strategists compared the monetary policy outlooks for both central banks. In Canada,…
The S&P 500 notched a fresh record high on Tuesday for the third session in a row, bringing its year-to-date gains to 2.0%. Yet as we highlighted in a recent Insight, the lack of a broad-based rally across all S&P 500…
As expected, the Bank of Japan maintained its ultra-easy monetary policy stance at its meeting on Tuesday, making no changes in interest rates or yield curve control. The monetary policy statement highlighted that elevated…
Results of the ECB’s quarterly Bank Lending Survey suggest that the tight monetary policy stance is still weighing on the Eurozone economy. Banks tightened credit standards for businesses and consumers further in Q4…
BCA Research’s European Investment Strategy service concludes that investors should go long German curve steepeners. Last week at Davos, European Central Bank (ECB) President Christine Lagarde leaned heavily against the…
The SIFI banks (BAC, C, JPM and WFC) kicked off the fourth-quarter US reporting season on January 12th. As usual, our US Investment Strategists studied the SIFI’s earnings calls looking for macroeconomic insights from…
Some key Asian trade indicators are warning against betting on a sustained rebound in global trade activity. In particular, Taiwanese export orders collapsed by 16% y/y in December – significantly below expectations of a…
With US equity indices forging new highs, a key dynamic to watch to gauge the sustainability of the rally is earnings releases and forward guidance. With 52 S&P 500 companies having already reported their results, the Q4…