Highlights Earnings season was impressive, with 87% of companies beating analyst earnings expectations. Analysts’ targets were too low because a whopping 38% of companies provided negative forward guidance for the Q2-2021 results…
Foreword Today we are publishing a charts-only report focused on the S&P 500 and its sectors. Many of the charts are self-explanatory; to some we have added a short commentary. As with the styles Chart Pack, published a month…
Highlights Globalization is recovering to its pre-pandemic trajectory. But it will fail to live up to potential, as the “hyper-globalization” trends of the 1990s are long gone. China was the biggest winner of hyper-…
Underweight (Upgrade Alert) We are currently underweight US banks, but the macro environment is changing and today we put this sub-sector on an upgrade alert looking to push it to a neutral allocation. The news on the buyback and…
Highlights Three distinct forces are likely to make South Asia’s geopolitical risks increasingly relevant to global investors. First, India’s tensions with China stem from China’s growing foreign policy assertiveness…
Underweight Last month, we made a final defensive tweak to our portfolio and downgraded financials from overweight to neutral by trimming banks to below benchmark allocation. One of the reasons we focused on financials specifically,…
Dear Client, Next week, instead of our regular report, we will be sending you a Special Report from BCA Research’s MacroQuant tactical global asset allocation team. Titled “MacroQuant: A Quantitative Solution For Forecasting…
Underweight As a follow up to yesterday’s Sector Insight report where we reiterated our S&P financials downgrade, today we cover banks that were used as the vehicle to trim financials to a neutral allocation. Housing starts…
Neutral In this Tuesday’s Strategy Report we closed our overweight financials call and moved this GICS1 sector to neutral from previously overweight capitalizing 20% in relative gains, since last November’s…