Highlights Global Inflation: The case for maintaining a strategic overall allocation to inflation-linked bonds (ILBs) versus nominal government debt in dedicated global fixed income portfolios remains intact. Global growth expectations…
Highlights Q1/2021 Performance Breakdown: Our recommended model bond portfolio outperformed the custom benchmark index by +55bps during the first quarter of the year. Winners & Losers: The government bond side of the portfolio…
Highlights The Biden Administration's $2.25 trillion infrastructure plan rolled out yesterday will, at the margin, boost global demand for energy and base metals more than expected later this year and next. Global GDP growth…
Highlights Central Bank Expectations: Market expectations of short-term interest rate moves over the next few years are inching higher. The potential for markets to offer a greater bond-bearish challenge to the current highly dovish…
The UK Lloyds Bank Business Barometer jumped to a pandemic high of 15 in March from 2 in February, reflecting greater optimism about both the current economic situation as well as the 12-month outlook for business activity. This…
At first glance, the headline job numbers out of the UK were disappointing. Jobless claims increased by nearly 87 thousand and the claimant rate increased to 7.5% from 7.2%. Moreover, on a three-month basis, the UK lost 147…
Dear Client, Dhaval Joshi has started publishing the new BCA Research Counterpoint product, in which he will continue to apply his unique process to dig up original investment opportunities around the globe. I trust many of you will…
The Bank of England took a page from the Fed’s playbook at its Thursday meeting, acknowledging that economic conditions and the pandemic have improved since February’s central projections, but emphasizing its…
Highlights Global Duration: Markets are correctly interpreting the $1.9 trillion US fiscal stimulus package as a factor justifying higher global growth expectations and bond yields. Maintain a below-benchmark stance on overall global…
The UK’s RICS House Price Balance Indicator increased to 52% in February from a revised 49%, beating expectations it would dip to 45%. While the headline number remains below October’s 66%, it is nevertheless a strong…