The US Consumer Discretionary sector has been one of the top winners since the equity rally broadened two months ago. Its 13% gain since the end of May outpaces the S&P 500’s rally by 3.8 percentage points This…
Stay cautious on Chinese stocks. Equity investors should use any rebound in onshore stock prices to downgrade A-shares from overweight to neutral within global and EM equity portfolios. Remain underweight Chinese investable/offshore…
BCA Research’s Private Market & Alternatives service sees challenges ahead for Global Buyout across geographies as valuations need further resetting. Buyout valuations globally are stretched relative to historic…
Equity investors resoundingly approved of the large-cap banks’ second-quarter earnings reports: in the seven sessions since C, JPM and WFC kicked off 2Q23 earnings on July 14th, the S&P 500 Banks Index rose 6.3% to the…
China’s Politburo meeting delivered a disappointing signal about Beijing’s willingness to deliver meaningful stimulus. Although policymakers pledged support for domestic demand, consumer sentiment, and risk prevention…
The snap election which took place on Sunday resulted in a political deadlock in Spain. No single party has won enough seats to form a government. More importantly, both the left-wing bloc and the right-bloc fell short of the 176-…
China’s economy is cruising at a very low altitude where gravity forces are intense. Downbeat consumer and business sentiment will reduce the effectiveness of stimulus. Anything short of “irrigation-style” stimulus will be…
BCA Research’s US Equity Strategy service recommends investors move to overweight banks over a tactical horizon. Q2 earnings results, while cheered by investors, were quite a mixed bag. And most of the bank challenges…
The Equity Analyzer Platform uses a 30-factor model called the BCA Score to help our clients build robust portfolios. Multi-factor models are constructed to avoid the common pitfalls of focusing on one factor dimension, such as…
South Korean exports in the first 20 days of July corroborate the signal from Taiwanese export orders that Asian trade conditions remain weak. The former declined by -15.3% y/y, undoing the optimism following a 5.3% y/y increase…