Special Report

Dear Client, I am visiting clients in Asia. Along with a brief Weekly Report, we are sending you this Special Report written by my colleague Marko Papic, Chief Strategist of BCA's Geopolitical Strategy service. Marko argues that the U.…

Special Report

Highlights The United States has produced too many elites, while popular well-being has fallen; Elite-controlled institutions have failed to protect households from the negatives of globalization and technological change; Tribalism,…

Highlights Macron has won in France; Economic reforms are forthcoming; Euroskeptic parties are moving to the center; Yet Italy remains a real risk; Stick to long French industrials versus German; stay long EUR/USD for now.…

Highlights Chart 1European Policy Uncertainty Down  Macron remains on target to win the French election, but Italy looms as a risk ahead; Fade any relief rally after South Korean elections; Russia is not a major source of…

Dear Client, In addition to this abbreviated Weekly Report, I sent you a Special Report earlier today written by my colleague Mark McClellan of our monthly Bank Credit Analyst publication. Following up on many of the themes discussed in…

Special Report

Highlights Dear Client, In light of the recent political crisis in South Africa, we are re-publishing the following brief from BCA’s Emerging Markets Strategy service. As we have argued since 2015, South African politics are…

Highlights Economic Outlook: The global economy is in a reflationary window that will stay open until mid-2018. Growth will then slow, culminating in a recession in 2019. While the recession is likely to be mild, the policy response…

Highlights Once the Brexit starting gun is fired, the EU27's high-level guidelines and red lines will create more vulnerabilities and uncertainties for the U.K. than for the euro area. The BoE will be more boxed in than the ECB.…

Highlights We discuss three "battles" that will shape the investment landscape in the euro area over the remainder of the decade. Battle #1: Reflation Versus Deleveraging - Reflation will triumph over the next 12 months. For…