Highlights Overweighting Eurostoxx50 versus S&P500 is just a sector play - you must believe that banks are going to outperform technology. It is categorically not a relative economic growth or relative valuation play. The best…
With the Senate Republicans passing their version of the bill on December 2, the odds that a final version of the bill will pass into law are now very high, though investors remain skeptical that there will be any stimulative economic…
Our key themes for 2018 should juice profits in the S&P banks index as all three key drivers of bank profits, namely price of credit, loan growth and credit quality, are simultaneously moving in the right direction. In fact, the…
Highlights Portfolio Strategy Synchronized global capex growth, a derivative of BCA's synchronized global growth thesis, will be a dominant theme next year, benefiting cyclicals over defensives. Three high-conviction calls are…
Highlights The current mini-upswing in the global mini-cycle started in May and is likely to end around January. On a 6-month horizon, lean against the rally in industrial metals. Equity investors should underweight Basic Resources,…
Overweight We have recently been highlighting the burgeoning capex upcycle as the key investment theme driving our sector rotation into cyclical stocks over defensives. The investment bank & brokers index in particular thrives…