Macro Investment Insights & Market Commentary

Upcoming Webcast

Noah Holds Barred: Investing Amidst the Slowdown

US Equity Strategy Webcast Series: Episode 1

Hosted By: Noah Weisberger, Chief US Equity Strategist

Moderated By: Jason Glazer, SVP, Sales

Tuesday, March 31 at 10:30 AM EDT | 3:30 PM BST | 4:30 PM CEST

Noah and Jason will discuss:

The foundations of our constructive outlook and 7700 year-end S&P 500 target
The capex outlook and its implications
Do valuations represent a meaningful constraint?
Tensions and opportunities between market pricing and the state of the cycle
What a US recession could mean for equities
Middle East tensions: potential paths to resolution and market implications
Sector positioning for 2026

Register

US Equity Strategy by Noah Weisberger

31 Mar 2026

Insight

Three Myths About The Third Gulf War

Our GeoMacro strategists argue that prevailing market narratives around the Gulf conflict rest on three flawed assumptions. First, that the UAE’s role as a financial hub is at risk; second, that Iran can sustain a closure of the Strait of Hormuz; and third, that the conflict is primarily about press...

Insight

Sentiment Snaps In Europe

European sentiment plunged in March, reflecting vulnerability to higher energy prices. The ZEW expectations index fell sharply to -8.5 from 39.4 at the Euro Area level and to -0.5 from 58.3 in Germany. German current conditions were better than estimates but remain deeply pessimistic at -62.9. The d...

Insight

Macro Risks Still Rule (Just Less Than Before)

Our US Equity strategists dove into macro’s explanatory power in driving sector returns and fundamentals. Using principal component analysis, they show that growth, inflation, and rate risk together account for nearly three-quarters of sector return variation.  Macro risks also influence f...

Insight

What If TACO Doesn’t Work?

Cross-asset correlations remain the clearest signal of how investors are pricing the energy shock. Risk assets rebounded late Monday after President Trump described the Iran war as “very complete, pretty much.” However, the outcome depends on Iran’s response, leadership cohesion, and willingness to ...

Insight

AI Will Kill The Tech Monopolies

Our Global Investment strategists argue that AI threatens the traditional profit engines of large technology firms despite boosting productivity. Tech companies have historically relied on economies of scale, network effects, and proprietary technologies, but AI may erode these advantages. Although ...

Insight

US Vs. The World: Tactical Tension

US assets have underperformed year-to-date, but BCA views differ on the tactical versus 12-month outlook. Since the start of the year, US markets have lagged the rest of the world, largely driven by the sell-off in software and AI-related stocks. The next phase for US versus the rest of the world wa...

Insight

Thoughts On The Bitcoin Selloff

The recent Bitcoin selloff is lacking a clear macro driver. Our Chart Of The Week comes from Artem Sakhbiev, from our FX strategy team. Bitcoin is down roughly 45% since its October peak, erasing all gains since the 2024 US presidential election. While large drawdowns are common in crypto, the ...

Insight

CPI Cools, But Fed Still On Hold

January US CPI cooled slightly, with leading indicators pointing to further disinflation later this year. Headline inflation fell to 2.4% y/y in January from 2.7%. Similarly, core also cooled to 2.5% from 2.6%, in line with estimates. Core goods inflation declined from 1.4% y/y to 1.1%, while core s...

Webcast Replay

The BCA Debate: The Outlook for Global Equities

At BCA, we believe that robust internal debate leads to sharper investment insights. We don’t expect our strategists to agree - but we do expect them to challenge each other rigorously.

To that end, we’re launching a new webcast series: The BCA Debate - a head-to-head discussion between BCA strategists with differing perspectives on key investment calls.

Debate #1: The Outlook For Global Equities
Peter Berezin vs Juan Correa

Juan Correa, Chief Global Asset Allocation (GAA) Strategist, is overweight equities on a 12-month horizon because:

The cycle is reaccelerating, with leading indicators pointing to improving employment, credit, and capex.
Inflation is unlikely to be a constraint for much of 2026; monetary policy should be supportive this year.
He is overweight value, ex-US equities, and cyclical sectors. He expects US tech to deliver mediocre returns in 2026, but believes fears of an AI bubble are overstated.

Peter Berezin, Chief Global Investment Strategist, is more cautious; neutral on a 3-month horizon and slightly underweight on a 12-month horizon. He will discuss:

His base-case path for equities in 2026, including a potential “Great Rotation” from tech to non-tech, growth to value, and US to non-US.
Why he thinks an AI bust could tip the broader economy into recession.
The trades he has implemented to express these themes.

Watch Now

Global Investment Strategy by Peter Berezin & Juan Manuel Correa

17 Feb 2026