Highlights A weak dollar and low bond yields have pushed up the S&P 500 more than anticipated. Cyclical forces favor loftier stock prices in 12 months. Froth creates short-term vulnerabilities that higher yields could catalyze.…
Highlights ‘Value’ sector profits are in terminal decline. Bank profits are in terminal decline, because private sector credit is now ‘maxed out’, and the intermediation between borrowers and savers can be done…
Dear Client, I will be on vacation next week. Instead of our regular report, we will be sending you a Special Report from my colleague Jonathan LaBerge. Jonathan will explore the risks posed to commercial real estate and the banking…
BCA Research's US Equity Strategy service remains underweight the S&P communications equipment index Our S&P communications equipment index underweight stance is paying dividends, and ongoing capex-related woes…
Underweight Our S&P communications equipment index underweight stance is paying dividends, and ongoing capex-related woes signal that a breakdown is looming (top panel). US CEOs are still reluctant to spend on big ticket…
Dear Client, In lieu of our regular report next week, we are sending you a Special Report from my colleague Chester Ntonifor, Foreign Exchange Strategist. Chester will share his outlook on the Hong Kong Dollar. I hope you will find his…
Please note that we will be on our summer holidays next week. Our next report will come out on August 20. Highlights The 30-year bond yield is the puppet master pulling the strings of all other investments. Where 30-year bond…
Two weeks ago we highlighted that the S&P5 (AAPL, MSFT, AMZN, GOOGL & FB) are trouncing the S&P495. Upon further analysis, and drilling deeper beneath the tech sector’s surface is revealing. These tech titans…