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Equities

Will US Growth Stocks Continue Outperforming?
After a period of significant underperformance in 2022, US Growth stocks are regaining lost ground vis-à-vis Value. The S&P 500 Growth index has outperformed its Value counterpart by 7 percentage points since the start of the year. Notably, most of…
Daily Insights
Watch What They Do, Not What They Say
The US banking system remains unsettled over two months after the failures of Silicon Valley Bank. The two weeks following regulators’ seizure of First Republic (FRC) have featured dizzying swings in the stock prices of several regional banks as investors…
Daily Insights
Indicators Of European Equity Risk
According to BCA Research’s European Investment Strategy service, a large set of variables points to some additional correction in European stocks over the coming months. The collapse in the Euro Area M1 is consistent with a significant decline in Eurozone…
Daily Insights
The Impact Of Tight Money On European Stocks

A restrictive policy by the ECB and a weak manufacturing sector will create headwinds for European stocks this summer. How should investors position their portfolios in this context?

European Investment Strategy
Global Equities: Looking Under The Hood
Global equities are up 18% in USD terms since they bottomed in mid-October. On the surface, this is a positive signal that risk sentiment is improving. However, internal equity dynamics indicate that the rally is running out of steam. First, the pace of…
Daily Insights
Erdogan On The Brink

Erdogan will most likely lose the Turkish election but it could go onto a second round. A strong opposition majority in the assembly would justify a tactical overweight in Turkish equities on a relative basis. For now, go long Turkish equity volatility.

Geopolitical Strategy
US Bank Stock Underperformance: Blame It All On Bond Losses?
The turmoil within the US regional banks over the past two months has resulted in a notable, and widening, divergence in the performance of US and European bank shares. Since the beginning of March, just before the problems with Silicon Valley Bank become…
Daily Insights
Shock-Proof Your Portfolio While Insurance Is Cheap

There is a 50:50 chance of experiencing a major deflationary shock in the next two years, and an even greater likelihood on a longer timeframe. The good news is that several assets provide a good insurance against this risk, and that this insurance is now cheap. Plus we highlight a compelling commodity pair-trade.

Counterpoint
A Conversation With A Chinese Pundit

This week we are sending you a transcript of my conversation with one of China’s most prominent and influential pro-market economists. Topics raised during my conversation with this Chinese expert may offer our clients important insights and provide context into recent developments in China’s economy.

China Investment Strategy by Jing Sima
Global Equities, Asian Exports Confirm ADXY Weakness
In an insight published a couple of weeks ago, we highlighted that the typically inverse relationship between the ADXY index of Asian currencies and the DXY recently broke down with both declining over the past few weeks. In other words, while the US dollar…
Daily Insights

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AI BCA Indicators/Model BDCs Bubbles/Crises/Manias Commodities Commodities & Energy Sector Country In-Focus Currencies Defaults Deleveraging See more Topics