BCA Research's European Investment Strategy service believes that the tactical correction in growth stocks is healthy. This service also recommends that long-term equity investors still favor growth over value, which diverges…
Highlights Chart 1Permanent Job Losses Still Rising The biggest event in bond markets last month was the Fed’s shift toward a regime of average inflation targeting. Treasuries sold off in the days following the…
Highlights EM domestic fundamentals, global trade and commodities prices, as well as global financial market themes are the main drivers of EM financial assets and currencies. The positive effect of improving global growth and rising…
Highlights Achieving 2 percent inflation, whether as a point-target or as an average over time, will continue to be a mission impossible. As central banks continue to push the monetary policy pedal to the metal, it will underpin the…
While the market PMIs for August were slightly revised down relative to their flash estimates, the ISM manufacturing survey, which has more weight toward smaller businesses, rose vigorously from 54.2 to 56, handily beating…
Recommended Allocation Chart 1Only Internet Stocks Have Kept On Rising It has been a very strange bull market. Although global equities are up 52% since their bottom on March 23rd, the rally has been limited largely to…
Highlights A weak dollar and low bond yields have pushed up the S&P 500 more than anticipated. Cyclical forces favor loftier stock prices in 12 months. Froth creates short-term vulnerabilities that higher yields could catalyze.…
Highlights Negative Rates: The persistence of the COVID-19 pandemic is intensifying pressure on policymakers in many countries to provide more stimulus. The odds that a new central bank will join the negative policy interest rate club…
BCA Research's Global Fixed Income Strategy service argues that the persistence of the COVID-19 pandemic intensifies pressure on policymakers around the world to provide more economic stimulus. The odds that more central…