According to BCA Research’s European Investment Strategy service, structural headwinds are still too strong to hold a long-term bullish view on Eurozone equities relative to the US. However, the coming two years should be…
Highlights Structural headwinds are still too strong to hold a long-term bullish view on Eurozone equities relative to the US. However, the coming two years should be kind to euro area stocks. The relative performance of European…
According to BCA Research’s Foreign Exchange Strategy service, the Swiss National Bank welcomes the recent weakness in the franc , but technicals suggest a tactical rally in CHF is likely. The Swiss franc has been one of…
Highlights The Swiss economy will benefit from the pickup in global growth. The recent weakness in the franc has been a welcome development for the Swiss National Bank, but technicals suggest a coiled spring rally in CHF is likely.…
Highlights Continued upgrades to global economic growth – most recently by the IMF this week –will support higher natgas prices. In our estimation, gas for delivery at Henry Hub, LA, in the coming withdrawal season (…
German factory orders accelerated 1.2% m/m in February from 0.8% m/m in January, indicating that the manufacturing recovery is intact. On an annual basis, factory orders jumped 5.6% y/y from 2.5% y/y. The monthly improvement…
The Sentix Economic Index for the Eurozone positively surprised by showing a strong rebound in investor confidence. The overall index jumped from 5.0 to 13.1 in April, beating expectations of a more muted rise to 6.7 and marking…
The global economy has been characterized by divergent recoveries. For example, the IMF’s April World Economic Outlook upgraded its 2021 US growth forecast by 1.3pp to 6.4%, versus the much more muted 0.2pp upgrade to the…
Highlights Q1/2021 Performance Breakdown: Our recommended model bond portfolio outperformed the custom benchmark index by +55bps during the first quarter of the year. Winners & Losers: The government bond side of the portfolio…
BCA Research’s European Investment Strategy service concludes that European economic activity remains a high beta play on global and Chinese growth. Despite the euro area debt crisis and the slow health and fiscal policy…