According to BCA Research's US Equity Strategy service, mid-caps underperform when spreads widen, although less so than Small as they are more financially robust and have better credit ratings. Small is the most leveraged…
The soft-landing narrative is gaining momentum, pushing equities higher and potentially offering investors a better entry point to position against it. Financial markets appear to have been surprised by the comforting…
Singapore is a small open economy that is highly sensitive to fluctuations in the global manufacturing activity. As such, Singapore’s non-oil domestic exports (NODX) are a bellwether for global growth. Singapore’s…
The latest house price data indicate that China's housing market remains weak. The prices of newly built homes across 70 medium and large Chinese cities declined by 0.4% m/m in October – a faster pace of decline than…
According to BCA Research’s China Investment Strategy service, Chinese policymakers are facing the Impossible Trinity. When faced with rapid currency depreciation in August-September, the PBoC deliberately tightened…
On the surface, the acceleration in Chinese retail sales and industrial production growth in October suggests that the economy is holding up. Retail sales expanded by 7.6% y/y last month – beating expectations of 7.0% y/y…
The US retail sales release delivered a mixed signal about US consumption. Although the headline figure contracted by 0.1% m/m in October, it was better than expectations of a 0.3% m/m decline. Moreover, the September increase…
The DXY collapsed to a 2 ½ month low on Tuesday following the softer than anticipated CPI inflation release which prompted investors to bring forward their Fed rate cut expectations (see The Numbers). This marks an…