Highlights 1.How Will The European Economy Cope With Higher Interest Rates? 2. How Will The European Stock Market Cope With Higher Interest Rates? 3. How Will The EU Respond To The Start Of Brexit? 4. Will The Bank of Japan's 0%…
Mr. X is a long-time BCA client who visits our offices towards the end of each year to discuss the economic and financial market outlook. This report is an edited transcript of our recent conversation. Mr. X: What a year it has been.…
Highlights The FOMC statement was somewhat more hawkish than expected. The Fed is on course to raise rates two to three times next year. Trump's policy views are squarely bearish for bonds, but more mixed for stocks. Investors are…
Recommendation Allocation Highlights Growth was picking up before the election of President Trump. His election merely accelerates the rotation from monetary to fiscal policy. This is likely to cause yields to rise, the Fed to…
Highlights Multipolarity will peak in 2017 - geopolitical risks are spiking; Globalization is giving way to zero-sum mercantilism; U.S.-China relations are the chief risk to global stability; Turkey is the most likely state to get…
Highlights The recent tightening in U.S. monetary conditions increases the risk of a pause in the dollar bull market. The yen is in a strong cyclical bear market, but it is best placed to benefit from a dollar correction. The ECB…
GAA DM Equity Country Allocation Model Update The GAA DM Equity Country Allocation model is updated as of November 30, 2016. The model further augmented the overweight to the U.S. despite the fact that the U.S. had already been the…