In a recent daily report, we analyzed relative performance of the S&P 500 sectors and styles under different US 10-year Treasury yield (UST10Y) regimes. Today we expand our analysis and map relative performance of the S…
Highlights A perfect storm has engulfed global energy markets. Strong economic growth, adverse weather conditions, and politically-induced supply disruptions have caused energy prices to surge. Fortunately, the global economy has…
Dear Client, We are sending you our Strategy Outlook today, where we outline our thoughts on the macro landscape and the direction of financial markets for the rest of 2021 and beyond. Next week, please join me for a webcast on…
Foreword Today we are publishing a charts-only report focused on the S&P 500, Cyclicals/Defensives, Growth/Value, and Small/Large. Many of the charts are self-explanatory; to some we have added a short commentary. The charts cover…
Highlights Earnings season was impressive, with 87% of companies beating analyst earnings expectations. Analysts’ targets were too low because a whopping 38% of companies provided negative forward guidance for the Q2-2021 results…
Since 2007, US growth stocks have outperformed value by more than 350%. This marked a significant shift versus the prior seven years during which US value stocks outperformed growth by nearly 50%. Moreover, the episodes during…
Dear Client, I will be on vacation next week. In lieu of our regular report, we will be sending you a Special Report written by my colleague Arthur Budaghyan, BCA Research’s Chief Emerging Markets Strategist. Arthur’s…
Highlights Yield curves have flattened considerably in the major economies since April. Slowing global growth, the perception that the Fed is turning more hawkish, and technical factors have contributed to flatter yield curves.…
Feature Since the end of the first quarter, the decline in Treasury yields has been the most important trend in global financial markets. It has contributed to the return of the outperformance of growth stocks relative to value stocks,…