The Fed started its easing cycle with a bang, cutting the policy rate by 50 basis points in September, above consensus expectations but in line with odds embedded in the futures and OIS curves. Our US Bond strategists had…

  Despite the recent correction, US equity leadership remains intact. The MSCI US index has outperformed global markets by 3.8% in 2024YTD. A 7.8% expansion in forward earnings drove the MSCI US index’ 2024YTD gains which was…

  According to BCA Research’s Geopolitical Strategy service, seven surprises with non-negligible odds could tip the scale in favor of Republicans for the White House by November 5. One of them is a war between Israel and Iran…

  Industrial metals returned a whopping 6% over the past week. Bullish investor sentiment is likely driving these gains. The soft-landing narrative has been gaining traction in recent days with markets pricing in increased odds…

  Trade data from small open economies act as a bellwether for global growth developments. In August, Korean exports expanded by 11.4% y/y in USD and 5.7% y/y in KRW terms, marking their eleventh and eighth consecutive month of…

  According to BCA Research’s Global Asset Allocation Strategy service, a common objection to buying Bitcoin raised by traditional investors is that it is too volatile. In the past it has been argued that this is irrelevant,…

  We noted earlier this month that the Fed would be unlikely to deliver a jumbo rate cut without telegraphing it first. President Williams' and Governor Waller’s September 6 speeches offered policymakers one last chance…

  Volkswagen’s CEO has been making the point that the market for European carmakers has been deteriorating. Earlier last week, he went on to make a rather pointed reference at Chinese EV manufacturers. He was quoted…

  According to BCA Research’s Global Investment Strategy service, the imbalances in the US economy are sizeable enough to generate a mild recession. Unfortunately for equity investors, a mild recession would not preclude a…