Arthur Budaghyan
Head of CoreMacro
Arthur is the Platform Head of CoreMacro.
He joined BCA in 1999 and has held the Chief Strategist role since 2005, managing investment strategies that span four asset classes –… Read More
Arthur is the Platform Head of CoreMacro.
He joined BCA in 1999 and has held the Chief Strategist role since 2005, managing investment strategies that span four asset classes – equities, currencies, local-currency bonds, and sovereign credit – for overall EM as well as across 20 developing countries.
Arthur is BCA’s longest-serving Chief Strategist, well known in the industry for his in-depth research, out-of-the-box global macro thinking, and non-consensus investment calls on China, EM, and global macro topics. Arthur's analysis emphasizes market-regime identification and the structural forces driving long-cycle investment themes.
Arthur holds a Master in Economic Policy Management from McGill University, and an MBA from the American University of Armenia. Read Less
He joined BCA in 1999 and has held the Chief Strategist role since 2005, managing investment strategies that span four asset classes – equities, currencies, local-currency bonds, and sovereign credit – for overall EM as well as across 20 developing countries.
Arthur is BCA’s longest-serving Chief Strategist, well known in the industry for his in-depth research, out-of-the-box global macro thinking, and non-consensus investment calls on China, EM, and global macro topics. Arthur's analysis emphasizes market-regime identification and the structural forces driving long-cycle investment themes.
Arthur holds a Master in Economic Policy Management from McGill University, and an MBA from the American University of Armenia. Read Less
The US dollar will become positively correlated with the S&P 500 going forward, i.e., it will trade as a pro-cyclical/risk-on currency. The following current account surplus currencies will appreciate substantially versus the USD: The KRW, JPY, TWD,...
20 Aug 2026, 10:30 EDT, 15:30 BST
Four strategists: two competing outlooks, zero house views, all from one firm that fosters truly independent thinking.
13 Jul 2026
Arthur discussed: The Fed: Damned if it does, damned if it doesn’t, Bessenomics upended?, Get Out of the Dollar (G.O.D.) Thesis: paused, not reversed, Unprecedented economic and market divergences, Lessons from the 2000 tech bubble peak, EM...
28 May 2026
BCA Research strategists review the 2026 outlook for the global economy and financial markets, and explain why investors should not be overweight risky assets going into the new year.
01 Dec 2025