European Investment Strategy
Special Report
Spain: Europe’s Tip Of The Spear
Spain's equity and bond outperformance reflects genuine fundamental repair: Lower bad loans, stronger profitability, and sustained earnings upgrades. Valuations remain undemanding despite the rally. Productivity is the key structural risk, but near-term fundamentals continue to surprise to the upside.
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BCA Research | GeoMacro Strategy
A blend of geopolitics and macro, synthesizing the new and old macro to generate alpha and identify the beta through probability-weighted market views.
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