In this report, we dissect which markets have broken out and which ones have not, and reflect what this entails for our global macro view. Also, we analyze how the S&P 500 has been taking its cues from a change in the inflation…
After US inflation slowed down markedly, EUR/USD broke out to 1.12, which constitutes a 16-month high. The euro is benefiting from the market expectation that the Fed will soon be done with its hikes while the ECB’s…
Singapore’s trade data continue to send a pessimistic signal about global manufacturing conditions. The year-over-year contraction in non-oil domestic exports (NODX) deepened to -15.5% y/y in June from -14.8% y/y –…
China’s slowdown confirms BCA’s Geopolitical Strategists’ view that persisting structural challenges would cause China’s economic reopening to disappoint (see The Numbers). In this context, Canada and…
According to BCA Research’s US Equity Strategy, clean energy is well poised for a sustained bull market over the long term. Governments around the world are enthusiastically lending their support to the clean energy…
Both EV and Green Energy themes still hold strategic promise for investors, posing large upside, despite prevailing macro headwinds. While both themes have yet to claw back their pandemic peaks, a broadening of the rally supports a…
According to BCA Research’s Global Investment Strategy service, stocks fare best when there is plenty of slack in the economy and growth is strong and getting stronger. In classical physics, the trajectory of an object…
China’s June export data sent a negative signal about global manufacturing conditions. The -12.4% y/y drop in the dollar value of Chinese exports fell below expectations of a -10% y/y decline, registering the steepest…
BCA’s Global Asset Allocation service (GAA) recommends a defensive multi-asset portfolio allocation due to a high probability of recession. However, our colleagues also add a hedge to manage upside risk because they do not…
BCA Research’s Commodity & Energy Strategy service concludes that strong EM demand coupled with OPEC+’s production cuts will help boost oil prices in the coming months. EM oil demand growth continues to power…