According to BCA Research’s Counterpoint service, the structural uptrend in bitcoin is still intact. The intrinsic value of bitcoin is that it cannot be confiscated by the state, either through monetary inflation, or…
The commodity complex performed exceptionally poorly last year. Industrial metals and crude oil were among the few major financial assets we track that posted negative z-scores in 2023. Indeed, the 12% drop in the Golman Sachs…
The gold/silver ratio (GSR) confirmed the improvement in global risk sentiment in November. It declined on the back of a 9.2% rally in silver, which outpaced the 1.9% rise in gold. Since then, the GSR has soared amid a more…
Global Investment Strategy predicted the surge of inflation in 2021/22 and the immaculate disinflation of 2023. Now their unique framework is predicting a recession in the second half of 2024.
According to BCA Research’s Commodity & Energy Strategy service, as the world splits into East-West trading blocs, the continuing trend of trade fragmentation will challenge the need for a USD-centric monetary system,…
Falling core inflation in the US over the short run will boost real disposable household income, which will keep consumption – ~ 70% of US GDP – strong. Over the medium- to-longer term – 3 to 5 years out – inflation risks rise as…
Throughout most of the second half of this year, the copper-to-gold ratio has been relatively stable, gyrating within a tight range. However, it is starting to show some tentative signs of bottoming. After the copper-to-gold…
According to BCA Research's Geopolitical Strategy service, investors should reduce risk, increase allocation to safe havens, and brace for oil price volatility and supply disruptions stemming from the Middle East over the…
The price of gold has rallied by 9.2% since October 5, reaching a 5-month high by Wednesday's close. Notably, this latest rally comes despite real bond yields having been trending higher for the past two weeks. Given that…