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Developed Countries

The Hot US Labor Market Is Cooling
Results from the JOLTS Survey indicate that while the hot US labor market is cooling. The number of job openings dropped from 10.6 million in January to a 21-month low of 9.9 million in February, below expectations of 10.5 million. The decline in job openings…
Daily Insights
RBA Pauses, Maintains Possibility Of More Hikes
As expected, the RBA stood pat at its meeting on Tuesday following 10 consecutive rate hikes that pushed the cash rate up by 350 basis points to 3.6%. The Australian economy is starting to show the effect of the rate tightening campaign. Inflation has…
Daily Insights
Canadian Consumers And Businesses: Grim Economic Outlook
Results from the BoC’s Business Outlook and Consumer Expectations Surveys for Q1 2023 indicate that the tightening cycle is impacting the Canadian economy. The share of households reporting being financially worse off because of the interest rate hikes…
Daily Insights
Are Homebuilders Vulnerable to a Pullback?
US homebuilder stocks have outperformed the S&P 500 by 29.7% since the end of Q3 2022. Meanwhile, banks have underperformed the S&P 500 over the same period, especially following their 23.3% plunge in relative term since March 1st. As a result, a gap…
Daily Insights
Can European Equities Continue To Defy Banking Sector Risks?
BCA Research’s European Investment Strategy service concludes that the increase in the cost of capital caused by the recent period of stress in global banks will hurt European growth. The European stock market is at risk. The tightening in global credit…
Daily Insights
Don’t Believe The Cuts

This week we present our Portfolio Allocation Summary for April 2023.

US Bond Strategy by Ryan Swift
Quarterly Portfolio Outlook: The Consequences Of High Rates

High rates have hurt real estate and, now, banks. The next shoes to drop: Loan growth, profits, and employment. Stay defensive. Recession is probable, but risk assets have not priced it in.

Global Asset Allocation by Garry Evans
Was That It?

We think the banking turmoil set off by Silicon Valley Bank’s failure will prove to be less than it’s been cracked up to be and that it will not derail the near-term equity we expect.

US Investment Strategy by Doug Peta
Style Chart Pack

This week we are sending you a Style Chart Pack, which now includes a standalone macro section, as well as macro, fundamentals, valuations, technicals, and uses of cash charts for the S&P 500, Defensives vs. Cyclicals, Growth vs. Value, and Small vs. Large. In the front section of this publication, we will review recent equity performance, and attempt to answer real estate sector-related questions that are foremost in investors’ minds.

US Equity Strategy by Irene Tunkel
Questions From The Road: Banking Sector Edition

Is the European banking system hiding nasty surprises? How will the recent stress affect European growth and the ECB’s policy outlook?

European Investment Strategy by Mathieu Savary, Jeremie Peloso

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AI BCA Indicators/Model BDCs Bubbles/Crises/Manias Commodities Commodities & Energy Sector Country In-Focus Currencies Defaults Deleveraging See more Topics