BCA Research is proud to announce a new feature to help clients get the most out of our research: an Executive Summary cover page on each of the BCA Research Reports. We created these summaries to help you quickly capture the main points…
Highlights The neutral rate of interest in the US is 3%-to-4% in nominal terms or 1%-to-2% in real terms, which is substantially higher than the Fed believes and the market is discounting. The end of the household deleveraging cycle,…
Highlights 2022 Key Views & Allocations: Translating our 2022 global fixed income Key Views into recommended positioning within our model bond portfolio results in the following conclusions to begin the year. Target a moderate…
Highlights Global equities are poised to deliver mid-to-high single-digit returns this year, with the outlook turning bleaker in 2023 and beyond. Non-US markets are likely to outperform. We examine the four pillars that have…
Highlights Global growth will remain above-trend in 2022, although with more divergence between regions than at any time during the pandemic (US strong, Europe steady, China slowing). Global inflation will transition from being driven…
The Bank of Japan’s Tankan Survey delivered a mixed report for Q4, highlighting the fragile nature of Japan’s recovery. Current business conditions, as expressed by large manufacturers, remained unchanged at 18,…
The final estimate for Japan’s Q3 GDP reveals that the economy contracted more than initially expected. GDP fell by an annualized 3.6% q/q in the third quarter, lower than the earlier estimate of 3.0% q/q. The weaker…
On Friday, the Japanese government announced a JPY 55.7 trillion spending package – the largest on record. Included in this package is a JPY 31.9 trillion supplementary budget plan which will be submitted to parliament by…
Dear Client, There will be no report next week as we will be working on our Quarterly Strategy Outlook, which will be published the following week. In the meantime, please keep an eye out for BCA Research’s Annual Outlook,…