According to BCA Research’s Global Investment Strategy service, the imbalances in the US economy are sizeable enough to generate a mild recession. Unfortunately for equity investors, a mild recession would not preclude a…
Volkswagen’s CEO has been making the point that the market for European carmakers has been deteriorating. Earlier last week, he went on to make a rather pointed reference at Chinese EV manufacturers. He was quoted…
We noted earlier this month that the Fed would be unlikely to deliver a jumbo rate cut without telegraphing it first. President Williams' and Governor Waller’s September 6 speeches offered policymakers one last chance…
Subdued demand for credit among Chinese private-sector businesses and households persisted through August. Outstanding loan growth decelerated from 8.7% y/y to 8.5%. Moreover, M1’s contraction deepened, from 6.6% to 7.…
Despite global bond yields having trended lower since April, bonds have only started outperforming equities since July in US dollar terms. We expect this outperformance to persist going forward. Sentiment has largely driven…
Following a 12-year-long bear market, Greek equities have returned a whopping 186% in EUR terms from their 2016 lows. The Greek macroeconomic backdrop has indeed improved. Since 2021, Greece’s nominal GDP growth has…
According to BCA Research’s Private Markets & Alternatives service, the Sports Franchise market presents a compelling opportunity for Private Equity due to its strong growth potential, evolving business models, and…
US small business optimism unexpectedly shed 2.5 points to 91.2 in August, the largest monthly decline since 2022, retracing nearly half of the index’s advance since March. The NFIB Small Business Optimism has oscillated in…
The undercurrents of global financial markets signal deteriorating global growth conditions. There is little cash on the sidelines in the US, the Euro Area, and Japan. If the budding bear market resembles the 2000-2003 one, EM stock…
The Swedish economy’s cyclicality and sensitivity to global trade make it a reliable bellwether for global growth. Sweden is facing significant domestic weakness. Employment growth declined by 0.14% y/y in July and…