Highlights The Chinese economy continues to recover, albeit less quickly than the first two months following a re-opening of the economy. The demand side of the Chinese economic recovery in May marginally outpaced the supply side,…
While the S&P transports index has neither made new all-time highs nor outperformed the SPX year-to-date, one economically hypersensitive sub-group, trucking, has been revving its engines and is sending a bullish signal for…
Highlights Chart 1More Stimulus Forthcoming? Last week we posited that bond yields could move modestly higher during the next couple of months as the US economy re-opens and economic growth recovers. However, any economic…
BCA Research's US Equity Strategy service concluded that health care stocks have consistently outperformed during the six inflationary periods they examined. Over the long haul, it has paid to overweight this sector given…
The GAA DM Equity Country Allocation model is updated as of May 29, 2020. The model has not made any significant change this month. It has kept the same order for the top four overweight countries (Spain, Australia, Sweden,…
Feature The key to how markets will move over the coming 12 months is whether the coronavirus pandemic turns out to be a short-term (albeit severe) disruption to the world economy, or something more fundamentally damaging. Markets…
Overweight (Downgrade Alert) We have been overweight the S&P biotech index and adding alpha to our portfolio in the double digits since February 2019. While a few technology sectors and subsectors have come close to vaulting to…
In the most recent Weekly Report we initiated a new long S&P homebuilders/short S&P REITs pair trade. One of the key drivers for this pair trade is the ebb and flow of owning versus renting and the current message…
An analysis on Turkey is available below. Highlights Due to the sizable stimulus announced by the NPC, we are upgrading our outlook for Chinese growth for this year. Nevertheless, in terms of investment strategy, we are…