China
BCA’s Geopolitical strategists argue that artificial intelligence will destabilize both domestic politics and international security, prompting more aggressive fiscal responses. President Trump’s July 23 executive orders to accelerate US AI innovation,…
BCA’s Geopolitical strategists advise investors to remain open to the possibility that a new Cold War dynamic is forming in global trade. While the US-China rivalry does not map perfectly onto the original Cold War, the analogy retains analytical value. US…
BCA’s Commodity strategists remain long gold/short LME copper and have initiated an outright short in LME copper as a cyclical trade. The US copper tariff will redirect supply away from the US, replenishing depleted inventories elsewhere and exerting downward…
Euro area and Chinese interest rates must fall much further to prevent monetary policy from becoming ultra-restrictive. But Trump’s attempts to force unwarranted rate cuts from the Fed risks a vicious backlash from the bond vigilantes.
当前，中国正站在内需疲弱与地缘博弈加剧的十字路口。在复杂多变的宏观环境中，投资者该如何把握方向，规避风险，寻找突破口？
Beijing’s supply-side push faces steeper hurdles than in 2016. With limited demand support and tighter constraints on cutting capacity, today’s reforms are unlikely to pack the same punch.
In this chartbook, we look at the balance of payments across DM and EM countries. The US does not fare well, but neither do a few other countries.
Upward pressure on Japan’s real bond yield justifies overweighting the yen and underweighting overvalued tech. Plus: two new tactical trades are long JPY/EUR and short platinum.
Our China strategists maintain a defensive stance on equities, favoring government bonds and high-dividend sectors as deflation persists. China’s deflationary pressures are supply-driven, with manufacturing capacity expanding faster than domestic…
Our Geopolitical strategists warn that structural and cyclical risks remain elevated despite a fading threat of acute shocks, and recommend booking profits ahead of tariffs and weaker data. President Trump is passing his signature legislation and pivoting to…