Canada
Buy CAD/NZD For A Trade…
Dear clients, This week we are sending you a Research Note on balance of payments across the G10, authored by my colleague Kelly Zhong. With unprecedented monetary and fiscal stimulus, balance-of-payment dynamics will become an even more important driver of currencies over the next few years.…
Canadian Stocks Are Still Waiting For Their Turn…
A Positive Backdrop For The Canadian Dollar…
More Easing In Canada? Not So Fast…
Highlights Butterflies & Yield Curve Models: With bond market volatility now back to the subdued levels seen prior to the COVID-19 market turbulence earlier in 2020, it is a good time to update our global yield curve valuation models to look for attractive butterfly trade ideas. Valuations…
Highlights Our intermediate-term timing models suggest the US dollar is broadly overvalued. We are maintaining a modest procyclical currency stance (long NOK, GBP and SEK), but also have a portfolio hedge (short USD/JPY). Go long a basket of petrocurrencies versus the euro. Stay short…
NZD/CAD Has Upside
NZD/CAD…
Highlights In this Weekly Report, we present our semi-annual chartbook of the BCA Central Bank Monitors. All of the Monitors are now below the zero line, indicating the need for continued easy global monetary policy to help mitigate the COVID-19 recession (Chart of the Week). Central bankers have…
Highlights Investment Grade Sector Valuation: Our investment grade corporate bond sector valuation models for the US, euro area, UK, Canada and Australia show some common messages, as markets have adjusted to a virus-stricken world. The most attractive valuations can be found within Energy and…