Highlights Stronger global growth in the wake of continued and expected fiscal and monetary stimulus, and progress against COVID-19 are boosting oil demand assumptions by the major data suppliers for this year. We lifted our…
Highlights Global Inflation: The case for maintaining a strategic overall allocation to inflation-linked bonds (ILBs) versus nominal government debt in dedicated global fixed income portfolios remains intact. Global growth expectations…
Highlights Continued upgrades to global economic growth – most recently by the IMF this week –will support higher natgas prices. In our estimation, gas for delivery at Henry Hub, LA, in the coming withdrawal season (…
According to BCA Research’s Commodity & Energy Strategy service, the odds that the US will succeed in halting completion of the final leg of the Russian Nord Stream 2 natural gas pipeline into Germany are higher than…
Highlights The Biden Administration's $2.25 trillion infrastructure plan rolled out yesterday will, at the margin, boost global demand for energy and base metals more than expected later this year and next. Global GDP growth…
The BCA Research Global Asset Allocation (GAA) Forum will take place online on May 18th. We have put together a great lineup of speakers to discuss issues of importance to CIOs and asset allocators. These include the latest thinking…
Highlights Biden’s policy on China is hawkish so far, as expected, but temporary improvement is possible. We are cyclically bearish on the dollar but are taking a neutral tactical stance as the greenback’s bounce could go…
According to BCA Research’s Commodity & Energy Strategy service, brent prices will average $60/bbl to $80/bbl to 2025. This is largely due to OPEC 2.0's production-management efforts on the supply side, and a…
Highlights We are lowering our expectation for oil-demand growth this year, bringing it more in line with levels expected by OPEC, the IEA and EIA. Our GDP-driven demand estimates have proven too bullish for 1Q21, considering the…