Following up from our earnings preview from the July 8thWeekly Report, the latest ZEW Indicator of Economic Sentiment made for grim reading. BCA’s global ex-U.S. ZEW took a turn for the worse and is challenging seven…

Special Report

Highlights U.S. inflation is on a structural uptrend. Monetary and fiscal policy, populism, and demographics will tend to push inflation higher over the coming decade. How can investors protect portfolios against inflation risk? We…

Highlights The Federal Reserve’s monetary policy stance is slightly accommodative for the U.S., but it is too tight for the rest of the world. Inflation is likely to slow further before making a durable bottom toward year-end.…

Special Report

HighlightsU.S. inflation is on a structural uptrend. Monetary and fiscal policy, populism, and demographics will tend to push inflation higher over the coming decade.How can investors protect portfolios against inflation risk? We look at…

Special Report

Highlights The upcoming changes to the Global Industry Classification Standard will substantially alter the sector composition of the MSCI China Investable index, by hollowing out the information technology sector (to the benefit of…

Special Report

There is growing evidence that Trump and the U.S.A. are winning not only the war of words, but also the actual trade war, even though it is still early days. Chart 1 clearly depicts that the S&P 500 is having a stellar year compared…

Highlights A broad survey on various valuation ratios suggests that Chinese investable equities' exceptional cheapness in the past several years has essentially vanished. Valuation is no longer a compelling reason for staying…

Highlights Increased regulatory scrutiny on the domestic financial sector may continue to create some headline risks and financial volatility, but the real economic impact should be marginal. The recent regulatory crackdown has mainly…

One of our favored themes over the past few months has been to tilt portfolios in favor of domestic vs. globally-oriented industries. With the U.S. dollar breaking above its trading range, a catalyst now exists to spur an imminent…

BCA's Strategists expect the U.S. dollar to move meaningfully higher on a cyclical horizon. The inevitable upshot of a strong U.S. dollar is deteriorating profit breadth. Clearly, industries most reliant on exports and/or capital…