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Equities

BCA’s Monetary Indicator: Less Constructive Than Meets The Eye
In a recently published report, BCA’s Bank Credit Analyst service reviewed the BCA Valuation Index, alongside three other US equity indicators which are published in Section III of each month’s report. The other indices included in our suite of equity…
Daily Insights
The Low-Hanging Fruit Has Been Picked
BCA Research's US Investment Strategy service’s yearlong recommendation to overweight equities was founded on its high-conviction view that investors were underestimating American consumers’ resources and resolve. The consensus pooh-poohed the mountain of…
Daily Insights
Shift Growth And Value Back To Neutral
According to BCA Research’s US Equity Strategy service, the outperformance of Growth sectors most likely has run its course. The team has opened an overweight in Growth vs. Value in April. Since then, the trade is up 2.73%. They are now closing this…
Daily Insights
What To Do With Semis, Growth, And Energy

Outperformance of Growth sectors most likely has run its course. It is time to shift Growth vs. Value allocation to neutral, downgrade Semis, and upgrade Energy to overweight.

US Equity Strategy by Irene Tunkel
The Problem With European Earnings

European real GDP growth is stabilizing, so why would European equities continue to trade sideways for the remainder of the year? The answer lies with nominal growth and its impact on earnings.

European Investment Strategy by Mathieu Savary
When (And How) To Say When

Inspired by a client’s questions, we examine the rationale behind the implementation of the trailing stop governing our near-term asset allocation recommendations.

US Investment Strategy by Doug Peta
Chinese Credit Growth Disappoints In July
Chinese credit and money data fell significantly below expectations in July. The CNY 0.53 trillion increase in aggregate social financing marks a significant slowdown from CNY 4.22 trillion in June and came in significantly below expectations of CNY 1.10…
Daily Insights
Unsustainable Divergences
According to BCA Research’s Emerging Markets Strategy service, the gap that has formed between the S&P 500 price and its operating profit margins, as well as the divergence between the S&P 500 Forward P/E ratio and the 30-year TIPS yield are…
Daily Insights
Mind The Gaps

Numerous divergences have opened up between global risk assets and global business cycle variables. These gaps are unsustainable, and odds are that the recoupling will occur to the downside with risk assets selling off.

Emerging Markets Strategy by Arthur Budaghyan
US Bank Stocks: The Bad News Is Priced In
On Monday, Moody’s downgraded the credit ratings of 10 small to mid-sized US banks and placed some of the biggest US banks on downgrade watch. The latter include Bank of New York Mellon, US Bancorp, State Street, and Truist Financial. The decision follows…
Daily Insights

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AI BCA Indicators/Model BDCs Bubbles/Crises/Manias Commodities Commodities & Energy Sector Country In-Focus Currencies Defaults Deleveraging See more Topics