China’s equity market stands out as a major underperformer vis-à-vis its global peers in 2023. The 13% drawdown in China’s investable stock price contrasts with the 20% rally in the MSCI ACW Index. It reflects…
The AI craze was the dominant force driving difference in equity sector returns in 2023. Broadly-defined technology sectors were the top three outperformers last year with IT, Communication Services, and Consumer Discretionary…
The market is excited by the idea that the Fed will cut rates early this year, even without a recession. But is that likely, with inflation still set to be around 2.8% mid-year?
December PMIs indicate that the global manufacturing sector is not experiencing a meaningful rebound. The Global Manufacturing PMI declined from 49.3 to 49.0 in December, marking the sixteenth consecutive month of a sub-50…
2023 was an unexpectedly good year for global financial markets. Most of the major financial assets we track generated positive abnormal gains. Although US stocks outperformed their global counterparts, Eurozone, Japanese, and…
Global financial markets ended 2023 on a positive note, delivering a second consecutive month of exceptional gains in December. Fixed income once again led in terms of abnormally large returns on the back of increased…
The Republican Party’s odds of winning the 2024 election will benefit, if anything, from state courts’ attempts to exclude President Trump from primary or general election ballots. Higher odds of a change of ruling party will…
The short answer, according to our colleagues at BCA’s Commodity & Energy Strategy (CES) is straightforward, but not simple: Political economy – i.e., how states organize and operate their economies to support…
