Highlights President Biden has called for the US intelligence community to investigate the origins of COVID-19 and one of Biden’s top diplomats has stated the obvious: the era of “engagement” with China is over. This…
Tech titans (AAPL, MSFT, AMZN, GOOGL & FB) peaked last September at roughly 26% market cap weight in the SPX, and have since fallen 300bps despite four of the five stocks recently hitting new all-time highs (AAPL is the last man…
Highlights Rising CO2 emissions on the back of stronger global energy growth this year will keep energy markets focused on expanding ESG risks in the buildout of renewable generation via metals mining (Chart of the Week). …
Highlights Biden will host a global summit for Earth Day on April 22-23, giving public attention to his climate change policy push. Investors should count on Biden’s green infrastructure package becoming the bulk of his climate…
Overweight Our long-held view that digitalization of the economy is still in the early innings remains intact, and hence we reiterate our cyclical (and structural) preference for software companies. The recent pullback in the…
Initiating a long S&P semis/short S&P technology hardware storage & peripherals (THS&P) pair trade is the ultimate reflationary play given its tight positive correlation with the 10-year US Treasury yield (top panel). Not…
The BCA Research Global Asset Allocation (GAA) Forum will take place online on May 18th. We have put together a great lineup of speakers to discuss issues of importance to CIOs and asset allocators. These include the latest thinking…
Highlights Biden has enough political capital to pass at least one more major piece of legislation. The next major bill will increase the budget deficit further, adding additional stimulus, though it will consist of structural reforms…