Machine learning has made significant progress in the physical sciences, although it has some ways to go in the social sciences. When asked to make predictions on oil markets, ChatGPT's responses lack in-depth analysis given its…
The 231bps rise in the 10-year Treasury yield last year weighed heavily on the relative performance of Growth stocks which lost 22.7% vis-à-vis the Value index in 2022. However, these dynamics have reversed this year with…
Our Counterpoint strategists believe that that the oil price has further downside, likely to a cycle low of $55 – because expectations for oil demand growth through 2023-24 are much too optimistic. Oil demand tracks…
Oil and metals reacted positively to the PBOC's 10 bp cut in the seven-day reverse repo rate, which will be part of the larger monetary and fiscal support needed to revive the economy. While deposit rates at state-owned banks have…
According to BCA Research’s European Investment Strategy service, the Dutch market will be the main European beneficiary of expanding spending on AI. The crucial factor constraining the deployment and expansion of AI is…
According to BCA Research’s Counterpoint service, an analysis of the AI rally’s complexity suggests that the rally is nearing a potential reversal point. Can the AI euphoria continue to drive the S&P 500 higher…
What’s going on? The market-weighted stock market is up. But the equally-weighted stock market is not up. Neither is credit. Neither are industrial metal prices. Neither is the oil price, despite two waves of OPEC output cuts. We…
Most of the profits that today’s internet companies earn stem from the quasi-monopoly power that they enjoy. According BCA Research’s Global Investment Strategy service, it is possible that AI will have the…
The AI craze could further lift stock prices, boost capex, and delay the onset of the next recession. Looking further out, reaping the profit windfall from AI may take longer than many investors expect.