Europe
The ECB will cut rates once more this year; however, markets underprice how far it will ease next year.
ECB Governing Council members unanimously voted in favor of lowering the deposit facility rate by 25 bps to 3.50% in September, marking the second cut this year. Moreover, expectations for weaker domestic demand led the ECB to downgrade its growth forecast…
Following a 12-year-long bear market, Greek equities have returned a whopping 186% in EUR terms from their 2016 lows. The Greek macroeconomic backdrop has indeed improved. Since 2021, Greece’s nominal GDP growth has exceeded the pace of growth in…
The BoE embarked on its easing cycle in August, delivering its first 25 bps rate cut. The decision was nowhere near unanimous, with 5 MPCs out of 9 voting in favor of lowering policy rates. Indeed, while headline inflation is sitting right on the central…
According to BCA Research’s Private Markets & Alternatives service, the Sports Franchise market presents a compelling opportunity for Private Equity due to its strong growth potential, evolving business models, and monopolistic properties. Sports team…
Eurozone GDP’s final estimate indicates that growth was slower than expected in Q2. Output grew 0.2% q/q in Q2, compared to 0.3% previously reported. A significant downward revision to capex (2.2% contraction against 1.8% previously estimated) drove the…
The Swedish economy’s cyclicality and sensitivity to global trade make it a reliable bellwether for global growth. Sweden is facing significant domestic weakness. Employment growth declined by 0.14% y/y in July and households’ debt burden stands at 155% of…
Global semiconductor stocks have returned 50% YTD in USD terms, and a whopping 200% since their September 2022 lows. However, they may have peaked back in July. Our Emerging Market strategists highlight a significant bifurcation between the revenues of…
BCA Research’s European Investment strategists looked at previous episodes of carry-trade blowups and assessed the performance of the Eurozone’s key sectors, national markets, and currencies three and six months thereafter. Under both investment horizons,…