Highlights In this Weekly Report, we present our semi-annual chartbook of the BCA Central Bank Monitors. All of the Monitors are now below the zero line, indicating the need for continued easy global monetary policy to help mitigate the…
Highlights There are no atheists in foxholes, and no Austrians ahead of this election: Republican senators and White House staffers may grumble about giveaways, but they cannot risk being painted as the Grinch who Stole Essential…
Dear Client, In lieu of our regular report next week, we will be sending you a Special Report from my colleague Jonathan LaBerge. Jonathan will be examining the global effectiveness of recent pandemic containment measures to judge both…
Highlights This year’s NPC refrained from announcing a numeric economic growth target. However, the targeted employment growth will be a reliable indicator of the government’s pain threshold. The announced stimulus…
An analysis on Turkey is available below. Highlights Due to the sizable stimulus announced by the NPC, we are upgrading our outlook for Chinese growth for this year. Nevertheless, in terms of investment strategy, we are…
Highlights Risk assets continue to ignore the dire state of the economy. “Don’t fight the Fed” will dictate investment policy for the coming months. Populism and supply-chain diversification will…
Highlights Portfolio Strategy The Fed’s extremely easy monetary backdrop along with easy fiscal policy remain the dominant macro themes, and they will continue to underpin the equity market. We remain constructive on the equity…
Yesterday, BCA Research's US Investment Strategy service concluded that although the Fed will do "whatever it takes" it cannot defend the economy from monumental job losses all by itself. It seems reasonable to…
Highlights Economic conditions are quite bad, … : Stay-at-home orders have decimated economic activity, giving rise to massive layoffs. … but policy makers embarked on a mighty initial effort to limit the longer-run…