Market Returns
Dear Client, Geopolitical analysis is a fundamental part of the investment process. My colleague, and BCA's Chief Geopolitical Strategist, Marko Papic will introduce a one-day specialized course - Geopolitics & Investing - to our current BCA Academy…
Dear Client, Geopolitical analysis is a fundamental part of the investment process. My colleague, and BCA's Chief Geopolitical Strategist, Marko Papic will introduce a one-day specialized course - Geopolitics & Investing - to our current BCA Academy…
Highlights Domino dynamics continue escalating within the EM universe confirming that a major bear market is underway. Several global cyclical market segments have recently experienced technical breakdowns. This confirms that global growth is slowing.…
The GAA DM Equity Country Allocation model is updated as of June 29, 2018. The model has reduced weights in Italy, the U.S., the Netherlands and France to beef up weights in Spain, Australia, Canada, Switzerland and Germany. After these adjustments,…
Highlights Portfolio Strategy Five key drivers - late cycle dynamics, likelihood of pricing power regulatory relief, the rising U.S. dollar, firming operating metrics and investor and analyst capitulation- all suggest that it no longer pays to be bearish…
Highlights Global Growth: The divergence between strong U.S. and weak non-U.S. growth will increase in the coming months and culminate in wider credit spreads. The Fed's reaction to wider credit spreads will determine how Treasuries perform. High-…
Please note that we are also publishing a Special Report on Mexico. Highlights The selloff in EM financial markets has been induced by slowing global trade amid lingering poor EM fundamentals. The Federal Reserve's resolve to tighten is aggravating the…
Highlights Oil markets are on tenterhooks, as unplanned outages; continued losses in Venezuela's output; pipeline bottlenecks in the U.S. shales; and a higher likelihood of sharper losses of Iranian exports are priced into global benchmarks. In our updated…
NOTE: We will not be publishing a report next week. The next Global Fixed Income Strategy Weekly Report will be published on Tuesday, July 10th. Highlights Global Corporates: The clash between monetary policy and the markets that we have been expecting…
Highlights Global Growth: The risk to U.S. financial markets from global growth divergences and increasingly hawkish trade policy is rising, and it is unlikely to be resolved without a market riot. Credit Cycle: Valuation is expensive and indicators of…