Insights

Please join Head of CoreMacro, Arthur Budaghyan, for a Webcast.

Thursday, August 20
10:30 AM EDT | 3:30 PM BST | 4:30 PM CEST

Arthur will discuss:

• Global currency markets are on the edge: the US dollar will become pro-cyclical, and the euro will become counter-cyclical.
• This regime shift would upend financial market correlations, and most investment portfolios are not positioned for it.
• The main driver of currency markets will change from interest rates to the balance of payments.
• The dollar’s dependence on net foreign flows into US equities is far greater today than ever.
• A low bar for US dollar depreciation: No net capital outflows necessary — just smaller inflows.
• A weaker US dollar will be deflationary, not reflationary, for the rest of the world.
• EM stocks will not rally in absolute terms despite a weak US dollar.
• Which asset classes and regions will perform the best during this US dollar devaluation?

Although the macro backdrop isn’t perfect and the equity setup isn’t ideal, the US economy and the S&P 500 continue to hold their ground. The conflict with Iran resists resolution but the latest flare up is in line with our geopolitical experts’ script, and they are not concerned that it heralds a material escalation. Equity investors have evinced a little discomfort with mushrooming AI investment projections, but we think the hyperscalers’ budgeted expenditures are safe for the next few quarters.

Please join Head of Essentials, Doug Peta, for a Webcast.

Wednesday, August 5
10:30 AM EDT | 3:30 PM BST | 4:30 PM CEST

Doug will discuss Iran, AI, and other items in investors’ focus, along with the following key drivers:

• The labor market
• Consumption
• Inflation
• Monetary policy
• Corporate earnings

Please join Chief Geopolitical Strategist, Matt Gertken and Chief Commodities Strategist, Roukaya Ibrahim, for a Webcast.

Wednesday, July 29
11:00 AM AEST

 Matt and Roukaya will discuss: 

• The geopolitical backdrop remains tricky as the US enters election season amid global struggles.
• The US-China tariff truce is holding for now. But will high-tech restrictions over AI start to rise?
• The mid-August deadline for the US and Iran to forge a real ceasefire is coming soon. Will they agree?
• What happens after the midterm election? Will Trump escalate both the trade war and Iran war?
• Ceasefire violations pose threats to commodity supply. What is the status of oil supply and demand?
• What other factors will drive oil and commodity prices through the end of the year?  Is gold a buy?
• What other geopolitical and commodity trends will impact Australia and the world in the coming months and years?

In this Webcast, Juan and Brian introduced the Portfolio Construction platform and showed how it brought Public and Private Markets together in a unified framework. They also discussed the key allocation views behind why investors:

• Should Overweight Private Equity
• Should rotate out of momentum stocks into quality and hyperscalers
• Should downgrade Late-Stage Venture Capital

Moreover, they reviewed their outlook on the macro economy, fixed income, rates, real estate, infrastructure and liquid alternatives.

Please join Strategists, Mathieu Savary, with Ryan Swift, Roukaya Ibrahim, Robert Timper, and Artem Sakhbiev, for the BCA's Q3 FICC (Fixed Income, Commodities & Currencies) Outlook Webcast.

Tuesday, July 14
10:30 AM EDT | 3:30 PM BST | 4:30 PM CEST

Where they will discuss our take on the macro forces driving global fixed income, currencies, and commodities into year-end.

Topics to be discussed:

• US rates under a Warsh-led Fed,
• Where G10 central banks diverge from the Fed,
• The best opportunities we see across global bond markets,
• The dollar's path through year-end, and which currencies are set to win or lose most,
• Whether the US-Iran de-escalation holds, and the read-through for oil and the broader commodity complex.