Valuations
Executive Summary Brazil: Are Political & Macro Risks Priced-In?
Brazil: The Road To Elections Won't Be Paved With Good Intentions…
BCA Research is proud to announce a new feature to help clients get the most out of our research: an Executive Summary cover page on each of the BCA Research Reports. We created these summaries to help you quickly capture the main points of each report…
Dear client, In lieu of our weekly bulletin next week, I will be hosting a webcast on Friday, January 28 at 11:00 am EST, to discuss recent dollar trends. I hope you all tune in. Kind regards, Chester Ntonifor Highlights While not often discussed, it is…
Highlights Global equities are poised to deliver mid-to-high single-digit returns this year, with the outlook turning bleaker in 2023 and beyond. Non-US markets are likely to outperform. We examine the four pillars that have historically underpinned…
Highlights December’s PMI and our market-based China growth indicator improved slightly, but the underlying data send a mixed signal about the country’s business cycle and do not give a green light for cyclically overweighting Chinese stocks. Our…
Highlights Below-Benchmark Portfolio Duration: Bond investors should keep portfolio duration low in 2022. While the market’s pricing of the expected Fed liftoff date and initial pace of rate hikes is reasonable, terminal fed funds rate expectations are far…
Emerging Markets Are Vulnerable To A Construction Slowdown In China…
Highlights Why have Value stocks underperformed so much during the past decade? The rise in intangible assets is likely the most important reason since traditional valuation metrics are no longer an accurate measure of intrinsic value. Value stocks…
Where Will EUR/USD Go From Here…
Having worked as an economist for close to 50 years, the current strange and uncertain environment seems a good time to look back and consider some of the lessons I have learned. An additional reason for writing this rather personal report is that, after 34…