As expected, the Reserve Bank of India kept the benchmark repurchase rate unchanged at 4% at its Wednesday meeting. Nonetheless, the RBI managed to surprise investors by announcing plans to purchase up to one trillion rupees ($14…
Feature The selloff in Chinese stocks since mid-February reflects a rollover in earnings growth and multiples. Lofty valuations in Chinese equities driven by last year’s massive stimulus means that stock prices are vulnerable to any…
China’s Caixin PMI showed an expansion in economic activity in March, in line with the message from the official PMI released last week. The Caixin Services PMI rebounded to 54.3 from 51.5, exceeding expectations of a 52.1…
Our long Russian equities / short EM tactical recommendation is up 6.28% since initiation on February 5. However, risks to this trade are now rising. On Monday, President Putin signed a law allowing him to run for two more six…
Highlights Global manufacturing activity will soon peak due to growing costs and China’s policy tightening. This process will allow the dollar’s rebound to continue. EUR/USD’s correction will run further. This…
Highlights The Biden administration is combining Trumpian nationalism with a renewed push for US innovation in a major infrastructure bill that is highly likely to become law. Populism and Great Power struggle with China and Russia are…
Highlights The Biden Administration's $2.25 trillion infrastructure plan rolled out yesterday will, at the margin, boost global demand for energy and base metals more than expected later this year and next. Global GDP growth…
Feature The global macro landscape over the next six months or so will be characterized by a booming US economy and decelerating growth in China. Financial markets will move accordingly. US Treasury yields will remain under upward…
The BCA Research Global Asset Allocation (GAA) Forum will take place online on May 18th. We have put together a great lineup of speakers to discuss issues of importance to CIOs and asset allocators. These include the latest thinking…
China’s official PMIs moved higher in March, pointing to an expansion in economic activity following three consecutive months of decline. The Manufacturing PMI inched up to 51.9 from 50.6, beating expectations by 0.7 points…