Highlights Indian stocks need more time to digest and consolidate the significant gains from earlier this year. However, the country’s medium and long-term growth outlook remains positive. Indian firms’ profit margins…
Highlights Omicron vs. The Fed: The new COVID variant has thrown a growth scare into markets, but the bigger concern is the Fed belated playing catch up to high inflation and low unemployment. Fade the Omicron bond rally, and position…
The RBA kept monetary policy unchanged at its Tuesday meeting. Governor Philip Lowe sounded cautiously optimistic in his policy statement. He noted that the Australian economy is on track towards recovery following the Delta-…
Highlights Chart 1Curve Flattening Is Overdone Fed Chair Jay Powell made big news last month. During Senate testimony, Powell not only signaled that the Fed is likely to accelerate the pace of asset purchase tapering when it…
The PBoC’s decision to cut the reserve requirement ratio by 50 bps is unlikely to be a game changer for the Chinese economy. The more important drivers of China’s business cycle and financial markets are credit growth…
Highlights Economy: Chair Powell retired the term “transitory” last week, signaling that the Fed may take a harder line on inflation in the coming year: The Fed coined the transitory term to describe the current inflation…
Highlights Our theme for the year, “No Return To Normalcy,” is largely vindicated. Inflation is back! The geopolitical method still points to three long-term strategic themes: multipolarity, hypo-globalization, and populism…
Dear Client, We are sending you our Strategy Outlook today where we outline our thoughts on the global economy and the direction of financial markets for 2022 and beyond. Next week, please join me for a webcast on Friday, December 10th…
Highlights The big issue is not whether the omicron variant of SARS-Cov-2 is a ‘super-variant’. The big issue is that, eventually, a new variant will be a super-variant. This is because the billions of unvaccinated…
Mr. X and his daughter, Ms. X, are long-time BCA clients who visit our office toward the end of each year to discuss the economic and financial market outlook for the year ahead. This report is an edited transcript of our recent…