Highlights Historically, the dollar exhibits positive seasonality in October and November. Technical and valuation indicators suggest that this year will be no exception. Continuing divergence between U.S. and global growth, rising…
Please note that a Special Alert titled "Brazil: A Regime Shift?" discussing investment implications of the weekend elections was published on Tuesday. Highlights The combination of rising U.S. bond yields and slumping…
Highlights Portfolio Strategy A playable sector rotation opportunity has emerged, as we first argued at the recent BCA investment conference: Financials, industrials and select tech subgroups will lead the next phase of the market…
Highlights Duration: Last week's bond market rout was driven by strong U.S. data. Global growth (ex. U.S.) continues to weaken. Weak foreign growth that migrates stateside via a stronger dollar remains the biggest risk to our below…
Highlights Chart of the WeekIncreasing Gas-On-Gas Pricing Will Disrupt Global LNG Markets Growth in the global Liquefied Natural Gas (LNG) market will be fuelled by surging U.S. natural gas production, which will allow consumers…
Highlights Chart 1Second Half Rebound The leveling-off of bullish sentiment toward the dollar and the perception of fading political risk have caused spread product to rally hard since the end of June. Indeed, corporate bonds…
Highlights Q3/2018 Performance Breakdown: The Global Fixed Income Strategy (GFIS) recommended model bond portfolio outperformed its custom benchmark in the third quarter of 2018 by +9bps. This raised the overall 2018 year-to-date…
Feature GAA DM Equity Country Allocation Model Update The GAA DM Equity Country Allocation model is updated as of September 30, 2018. The quant model has not made significant allocation changes as shown in Table 1. As shown in Table 2…