The Q3 earnings season is coming to an end. By Friday, 481 companies in the S&P 500 index had reported earnings. In aggregate, the results are generally favorable. The share of companies whose earnings exceeded analyst…
The US flash PMI sent a mixed signal about economic activity in November. The Composite index was unchanged at 50.7 – beating expectations of a slight decline to 50.4. The stable reading comes on the back of a…
This report looks at the prospects for the Swedish krona, following the pause by the Riksbank.
Most developed market central banks have paused hiking interest rates. With interest-rate differentials having been the most important driver of currencies over the last two years or so, the focus might now shift to other factors…
Our kinked Phillips curve framework predicted the immaculate disinflation of 2023. That same framework is now warning that the global economy is heading towards a recession in the second half of 2024.
Contrary to the prevalent belief in the global investment community, goods/merchandise inventories in the US and East Asia are rather elevated. Financial markets respond to final demand fluctuations, not inventory restocking. Global…
BCA Research's Commodity & Energy Strategy service concludes that lithium demand will rise over the long run. Lithium prices are continuing the selloff that began earlier this year, which was caused by strong…
Global cyclical sectors are outperforming defensive sectors on a year-to-date basis. The bulk of this outperformance occurred in the first seven months of the year. Relative valuations contributed to this dynamic as last year…
European flash PMI estimates for November sent a slightly less pessimistic signal on Thursday. The Eurozone composite PMI climbed by 0.6 points to 47.1, beating expectations of a more muted increase to 46.8. Notably, both the…
According to BCA Research's Emerging Markets Strategy service, the Chilean peso’s depreciation is already quite advanced. Over the next few months, the CLP will remain under downward pressure due to a likely…