BCA Research’s European Investment Strategy service concludes that Swedish stocks possess significantly more upside against both Eurozone and US equities over the remainder of the cycle. The industrial sector is a…
Highlights Sweden’s economic recovery is robust and will deepen. Policy is accommodative. Very few advanced economies will benefit as much from the global economic rebound. The labor market will tighten, capacity utilization…
As expected, the pandemic pushed the Eurozone economy into a double-dip recession. The bloc’s GDP contracted 0.6% in Q1 following a 0.7% decline in Q4. However, the aggregate number masks some differences beneath the…
Highlights Rising CO2 emissions on the back of stronger global energy growth this year will keep energy markets focused on expanding ESG risks in the buildout of renewable generation via metals mining (Chart of the Week). …
Highlights Developed economies continue to transition towards a post-pandemic state. Europe has further to go, but it is lagging the US at a constant rate and is thus merely delayed – not on a different path. This ongoing…
The GfK survey shows German consumer confidence hit a speed bump. For May, the index declined to -8.8 from -6.1, disappointing expectations of an increase to -4.2. This setback reflects the impact of rising COVID-19 infections,…
BCA Research’s Global Fixed Income Strategy service increased their recommended allocation for euro area high-yield to overweight. Since March of last year, the team has maintained an overweight stance on US high-yield…
Highlights The backdrop for global high-yield corporates remains positive, and a rebound in global GDP and earnings will help ease leverage and interest coverage concerns. With improving global growth taking over the reins from…
European industrial equities have further scope to outperform materials over the remainder of 2021. Despite an 11% outperformance since the second quarter of 2020, the ratio of industrials-to-materials equities still stands…
The German IFO and Belgium’s National Bank indicator painted a somewhat mixed picture of European business confidence in April. The IFO Business Climate Index inched up only 0.2 points to 96.8 and disappointed expectations…