EM FX valuations are now offering attractive valuation for all investors, not just long-term ones. The effective exchange rate for EM as a whole now trades two sigmas below its long-term historical mean. In previous cycles, no…
Highlights The near-term is fraught with risk for US equities and global risk assets. Investors concerned over uncertainty, a slow recovery, and economic aftershocks must also guard against geopolitics. COVID-19 is not a victory for…
Despite the magnitude of the COVID-19 crisis, China’s stimulus has so far been tepid. However, this will soon change. Chinese policymakers are sending two clear signals that they will aggressively reflate their economy.…
Highlights A World Organization of the Petroleum Exporting Countries (WOPEC) looks set to emerge after today’s OPEC 2.0 video conference to discuss production cuts in the wake of the COVID-19 pandemic, and the market-share war…
Highlights Please note that we are publishing an analysis on Vietnam below. The unprecedented depth of this recession entails that many businesses will likely be operating below their break-evens for a while, even after the…
Dear Client, Next week, we will send you a special report published by our Geopolitical Strategy service, authored by my colleague Roukaya Ibrahim. Roukaya will provide her insights on the global shortages of medical equipment as well as…
We have been closely monitoring the dynamics of the COVID-19 outbreak in Italy. If the containment of the virus can gather momentum, it could fuel the prospect that other Western countries can also gain control of the epidemic.…
On Tuesday, BCA Research's Emerging Markets Strategy service concluded that the cyclical outlook for Brazilian bank stocks has worsened further due to the COVID-19 pandemic, despite the fact that valuations have improved. Brazilian…
Highlights Please note that we published a Special Report early this week titled Brazilian Banks: Falling Angels, and an analysis on India. Please also note that we are publishing an analysis on Indonesia below. Given uncertainty…