経済成長

In the fifth installment of a BCA Special Report series on nuclear energy, our colleagues argue that US nuclear energy dominance is decaying. Though still the world’s leader in generation and capacity, the US will not hold the mantle indefinitely given high…

German factory orders contracted by a larger-than-anticipated 5.8% m/m (3.9% y/y) in August, from a 3.9% expansion (4.6% y/y). Domestically, Germany is constitutionally bound to maintain a balanced budget. The emergency pandemic funds disbursed in 2020 are…

Indian equities reached new highs in late September. Our Emerging Market strategists recommend dedicated EM investors use these gains as an opportunity to reduce Indian equity allocations from neutral to underweight. They expect both profits and multiples to…

The Swiss KOF Barometer is a composite leading indicator of the Swiss economy. It surprised to the upside in September coming in at 105.5 against expectations of 101.0. The August reading was also significantly revised higher, from 101.6 to 105.0. …

The dollar had erased all of its 2024 gains going into the fall, as markets prepared for Fed rate cuts. After a nearly 6% drawdown over the spring and summer, last week’s DXY rally brought the dollar back into the black YTD. Can these gains continue now…

According to BCA Research’s Private Markets & Alternatives service,  intra-market repricing will offer investors a unique opportunity to enter the industrial real estate space in the next two years. In the short term, Mexico will be a big winner…

In response to the Chinese stimulus announced in late September, our Emerging Market strategists upgraded EM equities to no more than neutral. Indeed, while these measures have triggered a sentiment-fueled rally from depressed valuation levels, conditions…

September nonfarm payrolls grew by 254 thousand, from 155 thousand in August, handily exceeding expectations of 150 thousand. Pro-cyclical manufacturing jobs declined by a lower-than-anticipated 7 thousand, while leisure and hospitality, as well as…

The S&P Global Canada Manufacturing PMI improved from 49.5 to 50.4 in September, breaking a 17-month contraction streak. It corroborated solid broad-based retail sales growth in July and August. Confidence in the outlook also improved. That said, we…

The JPM Global manufacturing PMI declined at an accelerating pace in September (49.6 to 48.8). Moreover, international trade flows deteriorated notably with the new export orders component falling from 48.4 to 47.5. A sector breakdown underscores broad-based…