Listen to a short summary of this report.         Executive Summary Small Caps Are Looking Attractive Relative To Their Large Cap Peers  Adverse supply shocks have pushed down global growth this year…

Special Report

Executive Summary The Declining Value Of An Old Friendship  India may buy cheap oil from Russia, but oil alone cannot expand this partnership. India needs to maintain a balance of power against China and Pakistan. With…

Dear Client, Next week, there will not be a written European Investment Strategy report; instead we will host a Webcast on April 26 with Chester Ntonifor, BCA’s Foreign Exchange Strategist. Regards, Mathieu Savary Executive…

Executive Summary Macron Still Favored, But Le Pen Cannot Be Ruled Out  Macron is still favored to win the French election but Le Pen’s odds are 45%. Le Pen would halt France’s neoliberal structural reforms,…

Executive Summary The Ukraine war reinforces our key view that commodity producers will use their geopolitical leverage this year. The market is growing complacent again about Russian risks. Iran is part of the same dynamic. If US-…

Executive Summary Long Small Cap Energy Versus Large Cap   President Biden has not received a boost in opinion polls from the Ukraine war. If he has not by now then it is increasingly unlikely that he will do so. Yet Biden…

Special Report

Executive Summary Cheap Or Expensive?  President Emmanuel Macron will be re-elected.French growth will slow in the coming quarters but will also remain solid beyond that horizon.France’s reform push will continue, particularly pension…

Executive Summary Equities Are Still Attractive Versus Bonds  Macroeconomic Outlook: Global growth will reaccelerate in the second half of this year provided a ceasefire in Ukraine is reached. Inflation will temporarily come…