A market-cap weighted index of CE3 economies (Poland, Hungary and Czechia) returned a whopping 64% in common currency terms since its 2022 low. Polish and Hungarian equities led the rally, advancing by a respective 86% and 78% in…
Many investors have cited the 1994 tightening cycle as an example of how the Fed managed to raise rates without triggering a recession. However, the unemployment rate was 6.5% in early 1994, which meant that inflation was less of a…
The stock market of the Eurozone’s largest economy keeps grinding higher with the DAX 40 closing at new highs last week. Since its October low, the index of German blue-chip companies advanced by 20%. Does this rally…
The market narrative continues to be dominated by the Magnificent Six, which drove both market performance and strong Q4 earnings results. While all sectors and styles have recently turned green, the rally is still mostly narrow.…
The MSCI ACW Growth index continues to strengthen vis-à-vis the Value index, outperforming the latter by 4.7 percentage points year-to-date, following 23.3 percentage points in 2023. Given that the IT, Consumer…
MacroQuant upgraded equities to overweight in February on a tactical short-term (1-to-3 month) horizon, but it continues to see downside risks to stocks on a medium-term (12-month) horizon. Consistent with the model’s relatively…
According to BCA Research’s China Investment Strategy service, the odds of a “Minsky Moment” are low for the Chinese banking sector. Chinese banks, however, will continue facing cyclical and structural headwinds…
The 2023Q4 earnings season is drawing to a close with over 80% of S&P500 companies having reported results. However, the three main providers of aggregate earnings data are posting significant variations. Indeed, IBES…
Nvidia’s blowout Q4 2023 earnings results and bullish guidance catalyzed a rally in global stocks that pushed the S&P 500, Europe’s Stoxx 600, and Japanese Nikkei to record highs on Thursday. The S&P 500 is…