Although Chinese industrial profits continued to decline in May, the magnitude of contraction narrowed slightly to 6.5% y/y from 8.5% in April. This latest release follows a series of better-than-expected economic data Although…
Executive Summary Russia Squeezes EU Natural Gas Major geopolitical shocks tend to coincide with bear markets, so the market is getting closer to pricing this year’s bad news. But investors are not out of the woods…
With headline inflation running at 2.1% y/y, Chinese inflationary pressures are relatively tame. However, that is not to say that the country is immune to global price dynamics. Like in most other countries, accelerating energy…
Gustavo Petro’s victory in the second round of the Colombian presidential election over the weekend is the latest in a shift in LATAM politics to the left. Though the margin of victory was slim, Petro will be the first left…
Executive Summary At our monthly view meeting on Monday, BCA strategists voted to change the House View to a neutral asset allocation stance on equities, with a slight plurality favoring an outright underweight. The…
After contracting 5.5% y/y in April, Taiwanese export orders bounced back by a stronger-than-expected 6.0% y/y in May. This improvement is consistent with the signal from Singapore non-oil exports which also exceeded expectations…
Listen to a short summary of this report. Executive Summary Higher Real Yields Have Weighed On Equity Valuations I had the pleasure of visiting clients in Saudi Arabia, Bahrain, and Abu Dhabi last week.…
Chinese economic data surprised to the upside in May. Industrial production grew by 0.7% y/y against an anticipated 0.9% y/y decline and following a 2.9% contraction. The decline in retail sales was less severe in May (6.7% y/y)…
Executive Summary Was FAANGM A Bubble? US inflation has become broad-based, and the labor market is very tight. Wages are a lagging variable, and they will be rising rapidly in the coming months, even as the economy slows…
According to BCA Research’s China Investment Strategy service, a deleveraging cycle, coupled with a decline in total population, may lead to a structurally lower interest rate environment, which may be positive for Chinese…