German equities have outperformed their Euro Area peers on a year-to-date basis, with the gap widening since May. The MSCI Germany Index returned nearly 4.5 percentage points more than the MSCI Eurozone index over the latter…

  According to BCA Research’s European Investment Strategy, the low rate of innovation in Europe is a major problem for the economy. Not only does it prevent Europe from standing at the technological frontier, but it also…

  The Norges Bank kept its policy rate unchanged at 4.5% at its September meeting and signaled low odds of policy easing before the first quarter of 2025. The inflation backdrop does not warrant easing policy. Although core CPI…

  The Bank of Japan’s policy normalization has been accompanied by exceptional outperformance by Japanese banks. Japanese banks have outperformed both the country’s broader market as well as the MSCI ACW Banks index by…

  According to BCA Research’s Emerging Markets Strategy service, investor sentiment in Vietnamese markets has soured significantly since 2022, when the authorities' sweeping crackdown on alleged corruption in the real…

  According to BCA Research’s Foreign Exchange Strategy and Global Investment Strategy services, most carry investors have covered their positions. Away from day-to-day noise, the longer-term trajectory of yen exchange rates…

  The Fed started its easing cycle with a bang, cutting the policy rate by 50 basis points in September, above consensus expectations but in line with odds embedded in the futures and OIS curves. Our US Bond strategists had…

  Stress among lower-income households is often cited as an early indication of deteriorating aggregate consumer fundamentals. The data indeed suggests that this cohort’s cash holdings are depleting. However, the Fed…

  Despite the recent correction, US equity leadership remains intact. The MSCI US index has outperformed global markets by 3.8% in 2024YTD. A 7.8% expansion in forward earnings drove the MSCI US index’ 2024YTD gains which was…

  The Chinese economic data in its totality was uninspiring in August. Industrial production and retail sales growth decelerated year-on-year and corroborate the message from August’s import and credit growth data that…