Overweight The expected price of credit, still pristine credit quality, and a looming reacceleration in credit growth all argue for including the S&P banks index in our high-conviction overweight list. Banks stocks…

Highlights Portfolio Strategy Interest rates are one of the most important macro drivers of overall equity returns via valuations. BCA’s view of a selloff in the bond market is a key factor underpinning most of our 2020 high-…

Special Report

Highlights Building on a previous special report focused on the investable market, in this report we construct and present models designed to predict the odds of Chinese domestic equity sector outperformance. BCA Research's China…

Feature Chart I-1Lebanese Bond Yields Have Surged To Precarious Levels  In a May 2018 Special Report, we warned that a devaluation and government default were only a matter of time in Lebanon. The country's sovereign US…

Special Report

Highlights In this report, we build and present models designed to predict the odds of Chinese investable equity sector outperformance, based on a set of macroeconomic and equity market factors. BCA Research's China Investment…

    Underweight While we remain overweight the S&P banks and the broad financials sector, we continue to recommend an underweight stance in the S&P insurance index. This early cyclical subgroup continues to…

Highlights The banks got the current earnings season off to a good start, … : Lending growth may be running in place, and net interest margins are under pressure, but positive operating leverage helped the banks beat…

Highlights The interim “phase 1” trade agreement reached last week represents a significant step forward towards reaching a détente in the China-U.S. trade war. Regardless of what happens next in the Brexit…