Highlights The centrist consensus is breaking down across the developed world; In its place is rising political plurality, with non-centrist and anti-establishment parties gathering support; This trend is not to be feared by the…

Special Report

Dear Client, This week's Global Investment Strategy Special Report is the first of a two-part series imagining a timeline of important economic and financial events spanning the next five years. This report covers the period from…

Highlights Overstated geopolitical risks in 2017 are giving way to understated risks in 2018; The reshuffle of China's government raises policy headwinds for global growth and EM assets; U.S. politics will be roiled by a leftward…

Special Report

Mr. X is a long-time BCA client who visits our offices toward the end of each year to discuss the economic and financial market outlook. This year, Mr. X introduced us to his daughter, who we shall identify as Ms. X. She has many years…

Mr. X is a long-time BCA client who visits our offices toward the end of each year to discuss the economic and financial market outlook. This year, Mr. X introduced us to his daughter, who we shall identify as Ms. X. She has many years…

Highlights The cyclical bull market in stocks will last until the end of next year. That said, global equities have become increasingly vulnerable to a correction, so fast-money investors should consider putting on a tactical hedge…

Special Report

Highlights The Arabic title of this Special Report is "Against Wasta." Wasta roughly translates as reciprocity in formal and informal dealings. It "indicates that there is a middleman or 'connection' between…

Special Report

Highlights Middle Eastern geopolitics will add upside risk to our bullish oil view, but not cause a drastic supply shock; Saudi Arabia is at last converting from a feudal monarchy to a modern nation-state; The greatest risk is…

Special Report

Highlights Stay short the rand. The South African currency has broken down, and further downside is looming. The rand is cheap for a reason. A lack of import substitution has hampered the benefits of a depreciated currency for the…

Special Report

Dear Client, Instead of our Weekly Report, we are sending you this Special Report written by my colleague Marko Papic, BCA's Chief Geopolitical Strategist. Marko argues that while there is considerable risk that NAFTA is abrogated,…