China has notably diversified its export markets over the past two decades, reducing its dependence on the US and other DM economies and strengthening trade ties with EM nations. Since 2000, shipments to the US have halved (…
According to BCA Research’s Counterpoint Strategy service, the post-pandemic US economy has inverted from its usual ‘demand-constrained’ state to a highly unusual ‘supply-constrained’ state. This…
According to BCA Research’s Commodity & Energy Strategy service, oil markets are caught in a tug-of-war that has kept oil prices in a trading range since H2 2023. Bearish demand concerns are enforcing an upper limit on…
During his Jackson Hole speech, Chair Powell dispelled any remaining doubts about a September rate cut. Still, easing monetary policy is unlikely to result in a soft landing. First, recessions have historically started shortly…
Brazilian equities have largely underperformed their EM peers in USD terms since the beginning of the year. Rising public debt and inflation are the two main forces weighing on the Brazilian bourse. Our Emerging Market…
European regulatory carbon credits (EUAs) are becoming increasingly investable as an asset class. In a Special Report published last September, our Global Investment strategists agreed to the strategic bull case for EUAs, but…
Our negative stance on European growth and assets is not devoid of risks. To gauge whether these risks warrant upgrading our growth outlook, we monitor Sweden closely. So, what is the current message from this Nordic economy?
Gold reached new all-time highs earlier this week. The yellow metal has returned a whopping 20.2% YTD, with the rally reaccelerating over the past month. Gold prices are inversely correlated with the dollar, and the expectations…