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  Opinion polls ahead of Brazil’s election this weekend suggest that odds are in favor of a victory for former President Luiz Inácio Lula da Silva. While a runoff election on October 30 will be needed if no candidate…
Executive Summary EU Metal Industry Under Threat  Russia’s threat to cut off all remaining exports of natural gas to the EU via Ukraine will further imperil the bloc’s struggling metals industry, particularly…
Special Report Please note I will be hosting a live webcast on September 29, 2022 at 9:00 AM HKT for the APAC region. I will discuss the global/China/EM macro outlooks and financial market implications. For clients in the Americas and EMEA, we had a…
  Chinese industrial profit growth contracted for the second consecutive month on a year-to-date year-on-year basis in August, falling 2.1% y/y in the first eight months of the year. The deterioration is broad-based across…
  BCA Research’s Emerging Markets Strategy & Geopolitical Strategy services conclude that the Turkish equity rally will soon fade. Turkish stocks have outperformed their Emerging Markets counterparts this year in…
Special Report Executive Summary Turkey is staring into an abyss: economic crisis that will morph into political crisis in the June 2023 election cycle. President Erdoğan will pursue populist economic policies and foreign policy adventurism to try…
Special Report Listen to a short summary of this report     Executive Summary Sales & Profit Margins: The Two Propellers That Powered The Post-GFC US Rally  US equity markets underperformed the global benchmark by 10%…
Executive Summary Higher Brent Prices, Stronger Upside Bias  The Fed is pacing a globally synchronized monetary-policy tightening cycle as the war in Ukraine escalates, following Russia’s mobilization of 300k reserve…
  According to BCA Research’s China Investment Strategy service, China’s property market continues to face potent headwinds. China’s property market woes continued in August with a further weakening in housing…
  South Korea’s exports in the first 20 days of September are signaling that global trade is weakening sharply. Exports fell by 8.7% y/y following a 3.8% y/y increase in the prior month. That said a fewer number of working…