United States
According to BCA Research’s Global Investment Strategy service, the wave of inflation that the US experienced over the past three years cannot be safely repeated. The unemployment rate is a highly mean-reverting series: When it gets down to very low…
In this Strategy Outlook we examine why, contrary to popular perception, the odds of a global recession over the next 12 months are rising not falling.
GAI is a powerful force that will revolutionize the global economy and we are sold on this long-term investment theme. To partake in the upward momentum, we recommend a nuanced approach. The GAI infrastructure cohort is now overbought - there should be a better entry point. The models and applications companies and early adopters are less of a crowded trade and offer more opportunities.
The Chicago Fed National Activity Index (CFNAI) – a summary statistic of US economic data releases – firmed to 0.05 in February from -0.54, and surpassed expectations it would remain in negative (below-average growth) territory. All four categories of…
Both supply- and demand-side forces contributed to the inflation surge in 2021/2022. According to the San Francisco Fed’s estimates, the contribution of demand-side forces to annual core PCE inflation jumped from -0.09 percentage points (pp) in February 2021…
Early-Stage VC: Aerospace & Space Technology
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A risk/reward ranking of the 10 major US investment grade corporate bond sectors.
The US Conference Board’s Leading Economic Index (LEI) unexpectedly rose by 0.1% m/m in February, surprising anticipations that the pace of decline would ease from -0.4% m/m to -0.1% m/m. Equity gains and the resilience of the US labor market drove the…
According to BCA Research’s US Political Strategy service, Biden’s domestic political actions are limited and in combination with the overbought and overpriced US equity market, Biden’s desperation, and the need to demonstrate credibility towards inflation…
The flash PMI estimates for March produced a mixed update on manufacturing and service sector activity in the US and Eurozone. In the US, the results suggest that growth is more resilient in the manufacturing sector than in services. The…