According to BCA Research’s US Bond Strategy service, investors should stay overweight spread product in US bond portfolios. Gross corporate leverage has plunged during the past few quarters. This drop explains why there…
Highlights Fed: The Fed is embroiled in a debate about whether to move more quickly toward rate hikes. Our expectation is that the Fed will remain relatively dovish unless 5-year/5-year forward inflation expectations show signs of…
Highlights On a 2-3 year horizon, stay overweight the US stock market, in absolute terms and relative to the non-US stock market… …and stay overweight the US dollar. A good model for the US stock market is the 30-year T-…
Dear Client, The next two BCA Research Global Fixed Income Strategy reports will be jointly published with other BCA services, which will impact the publishing dates. Our next report will be a joint Special Report on Australia,…
Highlights Despite strong economic activity throughout most of 2021, economic surprises have decreased considerably. This helped the US equity market outperform Europe. It also significantly contributed to the euro’s…
BCA Research’s Global Investment Strategy service concludes that investors need to throw the old playbook for dealing with growth slowdowns out the window. US growth will slow next year, not because demand will falter,…
Highlights US growth will slow next year, not because demand will falter, but because supply-side constraints will prevent the economy from producing as much output as households and businesses want to buy. If aggregate demand…
BCA Research’s Emerging Markets Strategy service expects Philippine sovereign credit to outperform its EM counterparts. A negative outlook on overall EM sovereign credit warrants overweighting Philippine sovereign credit…