Latest from BCA Research
In this report, we present our review of the BCA Research Global Fixed Income Strategy (GFIS) model bond portfolio for the full calendar year 2022 and the initial outlook for 2023. We envision a changed game plan for fixed income investing this year, as the focus of bond investors begins to shift from high inflation to slowing global growth. In this environment, asset allocation decisions between government bonds and spread product – rather than duration management – will represent the more important expected driver of bond portfolio performance.
This Friday, January 13th, will mark the beginning of the Q4-2022 earnings season, with the biggest banks, such as JPM, Bank of America, Wells Fargo, and Citigroup reporting quarterly earnings. This note will review consensus expectations, revisit our own (correct) earnings predictions, and lay out a roadmap for 2023.
The BCA Score's safety tilt pays off in a turbulent year. USHQ outperformed the SPY in December and USHQ SMID performed inline with its MSCI US SMID Cap benchmark.
This week we present our Portfolio Allocation Summary for January 2023.
Today we are publishing a charts-only report focused on the key macroeconomic data as well as each GICS1 S&P 500 sector. Many of the charts are self-explanatory; to some we have added a short commentary. The charts cover macro, valuations, fundamentals, technicals, and the uses of cash. Our goal is to equip you with all the data you need to make investment decisions in these sectors.
India’s lofty EPS growth expectations are set for a major disappointment. The RBI has overtightened monetary policy despite the absence of any genuine inflationary pressures in India. Fiscal stance is also restrictive. Stay underweight this bourse in EM and Emerging Asian equity portfolios.
