Developed Countries
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According to BCA Research’s Bank Credit Analyst service, events that have occurred since the onset of the pandemic have highlighted that the easy money era that prevailed from 2009-2021 is very likely over. The…
The uptick in the Conference Board's Consumer Confidence Index to 102.0 pushed it above consensus estimates of 101.0 in November. Although this is a marginally positive signal, the prior month was revised down from 102.6 to 99.1. Moreover, the details of the…
US home prices climbed to a new all-time high in September. According to data from S&P CoreLogic Case-Shiller, prices gained 0.7% m/m, albeit a slower pace of increase than the 0.8% m/m rise in August. On an annual basis, house price appreciation…
After widening since mid-year, the spread between German bunds and Italian BTPs has been narrowing over the past month. What is driving this move? Our Chief Global Fixed Income Strategist highlighted in Tuesday's BCA Live & Unfiltered livestream that both…
The Baltic Dry index, which measures the average price paid for the transport of dry bulk materials across more than 20 shipping lanes, has rebounded 63% this month and 130% since the middle of the year. The latest leg of the rally is not happening in…
According to BCA Research's Geopolitical Strategy service, coalition politics will prevent radical policy changes in the Netherlands. The Dutch elections saw a shift to new and opposition parties as the team expected. The right-wing…
While the S&P 500 has rallied by 18.8% so far this year, not all sectors and industries have gained on a year-to-date basis. Nearly half of the 11 sectors are in the red. This list, which is made up of Utilities (-11.7%), Consumer Staples (-4.6%), Energy…
After a sharp rally since late-October, the S&P 500 is now on the verge of breaking above its late July year-to-date high and completely erasing the losses incurred over the prior three months. Investor sentiment has also rebounded sharply and is once…
According to our Global Investment Strategy (GIS) service, so far this year, inflation in the US has declined sharply even though employment growth has remained strong. There are many factors that have contributed to this constructive situation, including…
According to BCA Research's European Investment Strategy service, given the defensive nature of Portuguese equities and the team's recession view, investors should favor the Portuguese bourse relative to Euro Area equities. The Portuguese equity market is…