Signs that we are entering the last phase of a bubble are building up. Can European equities benefit from a new tech mania?
Reported earnings for Q4-2023 were rather underwhelming and prone to issues that we have identified over the past few months: Growth is concentrated in just a few sectors and companies, while the profitability of a broad swath of the…
According to the latest figures from FactSet, 59 of the 85 S&P 500 companies that have issued EPS guidance for Q1 2024 have guided lower. At 69%, the share of companies issuing negative EPS guidance is above both the 5-year…
Our Valentine’s Day report is about two love stories: the infatuation with US tech and China’s infatuation with housing. We describe how these love stories will end, and why Europe could be the winner.
BCA Research’s US Equity Strategy service created a sector selection scorecard based on performance of sectors under various macroeconomic regimes. The current macroeconomic backdrop is characterized by the following…
We created a sector selection scorecard based on performance of sectors under various macroeconomic regimes while taking into consideration revisions to expected earnings growth and valuations in a historical context. Our total…
According to the latest MBA weekly survey, mortgage applications increased 3.7% in the week ending February 2. The contents of the report were mixed. A 12.3% jump in the refinance index drove the increase while mortgage…
According to BCA Research’s Emerging Markets Strategy service, Chilean bank stocks offer great value and are poised to outperform the EM equity benchmark. Chilean bank share prices are well-positioned to outperform due…
The disinflation to date has been benign because it has come almost entirely from improving supply. But the supply-side tailwind has exhausted, so the last mile of the journey to 2 percent inflation will be the hardest, especially in…
Banks were thrust back in the spotlight’s unflattering glare last week when mid-cap regional New York Community Bank shocked analysts and shareholders with an enormous credit loss. According to BCA Research’s US…