The month of October ahead of a US general election tends to be a volatile month with negative outcome for equities. As such, it is prudent to remain on the sidelines until after the election.
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…
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,…
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…
The European Commission voted to impose tariffs of up to 45% on imports of Chinese electric vehicles (EVs). The announcement follows previous tariffs imposed on Chinese EV imports back in June. This new round of economic…
India’s credit impulse has turned negative. Government spending is contracting. The country’s growth will remain subdued; and both drivers of stock prices – profits and multiples – are headed lower at a time when equity valuations…
According to BCA Research’s Counterpoint service, absent the multi-decade housing and construction boom, China will be unable to generate the monster credit impulses that it did through 2000-20. While the credit…
October seasonality tends to be negative for stocks in an election year. That is the only thing that has stayed our hand from shifting out of our tactical underweight on US equities, initiated – poorly – in July.
But the big macro…
Our Portfolio Allocation Summary for October 2024.
The Fed embarked on a new easing cycle with a bang and China delivered its largest stimulus since 2015, leading to a strengthening in the risk-on soft-landing narrative in September. Chinese and EM equities led the pack. We…