Global Macro & Investment Outlook See how the global macro regime is shifting and what it means for markets, risk, and portfolio positioning. Image What Really Ails China China does not produce too much. It spends too little. The only viable way for China to reduce investment without raising unemployment is by lowering national savings. Doing so is likely to be politic… by Peter Berezin Aug 6, 2026 Image Japanese Profit Margin Expansion: The End Is Nigh Over the past 10 years, Japan’s profit margin expansion has been driven neither by advances in labor productivity nor by operational efficiency gains, but by massive currency devaluation and lower dep… by Rajeeb Pramanik, Arthur Budaghyan Jul 31, 2026 Image Charts That Matter: Zoom Out. Watch The Extremes Global equities have reached extremes on multiple measures, none of which are reliable timing tools. But imbalances in economics and investing can build for far longer than rational analysis would pre… by Arthur Budaghyan Jul 23, 2026 Image Chief Economist’s View: Late-Cycle Dynamics As long as the AI boom keeps booming, all other investment considerations will remain on the back burner. However, if the AI trade fizzles, this would expose deep-seated problems within the global eco… by Peter Berezin Jul 23, 2026 Image Bull/Bear Debate: Buy Dips Or Sell Strength In 2H2026? BCA's bull/bear debate webcast, held on July 13, 2026 (replay here) and moderated by Chief Investment Strategist Marko Papic, pitted Peter Berezin and Arthur Budaghyan on the bearish side against Juan… by Noah Weisberger, Marko Papic, Peter Berezin, Arthur Budaghyan, Juan Manuel Correa Jul 20, 2026 Image Echoes Of The Late 1960s: Get Out Of The Dollar (G.O.D.) The US dollar will become a pro-cyclical currency going forward. This regime shift would upend financial market correlations, and most investment portfolios are not positioned for it. A great deal of… by Arthur Budaghyan Jul 17, 2026 Our Strategists Arthur Budaghyan Head of CoreMacro Arthur is the Platform Head of CoreMacro. He joined BCA in 1999 and has held the Chief Strategist role since 2005, managing investment strategies that span four asset classes – equities,... Peter Berezin Chief Economist & Head of CoreMacro | Global Macro Peter is BCA’s Chief Economist and Head of CoreMacro. He leads the firm’s efforts to analyze global macroeconomic trends and their implications for financial markets. He also designed the firm’s...
Arthur Budaghyan Head of CoreMacro Arthur is the Platform Head of CoreMacro. He joined BCA in 1999 and has held the Chief Strategist role since 2005, managing investment strategies that span four asset classes – equities,...
Peter Berezin Chief Economist & Head of CoreMacro | Global Macro Peter is BCA’s Chief Economist and Head of CoreMacro. He leads the firm’s efforts to analyze global macroeconomic trends and their implications for financial markets. He also designed the firm’s...
