The soft landing and rate cuts narrative is being priced out, and the S&P 500 is overvalued and getting overbought. The Magnificent Seven are about to get a new moniker on the back of performance dispersion. However, without the…
The S&P/TSX Venture Index is a micro-cap index of Canadian companies listed on the TSX Venture Stock Exchange. Nearly two thirds of the index is comprised of material and energy stocks, making the index exposed to…
US small-cap stocks have benefitted from the recent improvement in risk sentiment. The S&P 600 is up 10% over the past month – exceeding the S&P 500’s gains by 5.4 percentage points after having underperformed…
Our political forecasting scored wins in 2023 but we failed to capitalize on it adequately in our trade recommendations.
According to BCA Research's US Equity Strategy service, mid-caps underperform when spreads widen, although less so than Small as they are more financially robust and have better credit ratings. Small is the most leveraged…
To the extent that US small businesses are typically more exposed to domestic economic conditions than larger firms, results of the NFIB Small Business Economic Trends survey are instructive. One important trend is that the…
US small-cap stocks have underperformed significantly this year. While the S&P 500 price index is up 14.0% year-to-date, the S&P 600 has lost 2.5%. However, this underperformance has not been a straight line down. Small…
Monetary policy is difficult to calibrate: it is hard to get it just right. The Global Investment Strategy (GIS) service has been iterating that while the Fed could temporarily achieve a soft landing, there is much uncertainty…
After having sold off in the first five months of the year, the performance of small-cap stocks improved in June and July with the S&P 600 index gaining 13.9% in those two months. A broadening of the US equity rally –…