Special Report

Highlights Huge short-term moves have occurred in several markets in the wake of the U.S. election. From a tactical perspective, we believe the moves have gone too far, too fast. Beyond the tactical, the key question is whether or not…

Highlights Recent market moves have been emotionally driven and speculative in nature. The risk is now that tighter monetary conditions risk crimping growth in the near term. Since 2014, whenever the 10-year Treasury yield has reached…

Special Report

Highlights As western society has become increasingly ethnically diverse, identity politics have flourished. Technological developments have facilitated this trend by giving like-minded people the opportunity to live in their own…

Highlights The 50bps spike in the JPM global government bond yield since August constitutes one of the most aggressive tightenings since the Great Recession. Higher bond yields weaken credit growth, and weaker credit growth almost…

Special Report

Highlights The polls were not wrong in the Brexit and U.S. election cases, pundits were; Marine Le Pen is trailing her likely second round opponent by around 40%; She can win, but her probability of winning has been inappropriately…

Highlights EM risk assets will continue to plunge as U.S. bond yields and the U.S. dollar have more upside. Asset allocators should maintain an underweight allocation to EM within global equity and credit portfolios. Upgrade Russian…

Highlights Trump's Win: The Republican sweep of both the White House and Congress in the U.S. elections will allow President-elect Donald Trump to implement much of his planned policies, including a major fiscal stimulus package.…

Highlights Duration: We continue to advocate a below benchmark duration stance, but the bond bear market is likely to take a pause once market rate expectations have fully converged with the Fed's forecasts. TIPS: The Fed will be…

Highlights Trump's election victory means that there is potential for policy settings to flip from "easy money, tight fiscal" to "tight money, easy fiscal" The market implications of that shift are dollar…

BCA will be holding the Dubai session of the BCA Academy seminar on November 28 & 29. This two-day course teaches investment professionals how to examine the economy, policy, and markets; and also makes links between these important…