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…
Although not our base case, there is a path for the US economy to avoid a recession over the next few years. We see the risks to stocks as tilted to the upside in the near term but to the downside over a 12-month horizon.
According to BCA Research’s Geopolitical Strategy and European Investment Strategy services, Spain’s economy is outperforming that of the Eurozone thanks to lower inflation and exploding tourism activity. These trends…
Investors have become increasingly more optimistic about the economic outlook. BoA’s Global Fund Manager Survey shows the share of investors surveyed expecting the global economy to experience a soft landing over the next…
BCA Research’s Emerging Markets Strategy service concludes that the failure of EM stocks, Asian currencies and commodities to stage a broad-based outperformance is consistent with their macro thesis that global trade/…
The South African rand has been a key winner amid the recent improvement in risk sentiment. Notably, the ZAR's 10.9% appreciation versus the US dollar since May 25 has made it the best performing major currency over this…
In this report, we dissect which markets have broken out and which ones have not, and reflect what this entails for our global macro view. Also, we analyze how the S&P 500 has been taking its cues from a change in the inflation…
According to BCA Research’s US Investment Strategy service the risk-reward from overweighting equities and underweighting fixed income is far less appealing than it was toward the end of last year. Now that the mood is…
According to BCA Research’s US Equity Strategy, clean energy is well poised for a sustained bull market over the long term. Governments around the world are enthusiastically lending their support to the clean energy…