Latest from BCA Research

The AI revolution is having a large impact on many US stocks but European equities have not enjoyed the same benefits. Is Europe really devoid of AI plays?

Bank Credit Analyst

A massive crackdown on cryptocurrencies and crypto companies began this year in the US. Liquidity has collapsed as a result. This lack of liquidity coupled with the anticipated large-scale liquidation of crypto assets by the US government and other large players could be bearish for prices over the next few months. However, a buying opportunity could emerge by year-end, as new regulatory structures in the rest of the world will finally allow institutional investors to access cryptocurrencies without operational risks. The era of thousands of cryptocurrencies is also probably over, with the space likely to consolidate into a few tokens.

A preview of what to expect from next week’s FOMC meeting.

Special Report

Global semiconductor demand will continue contracting, even though the pace of decline will moderate in 2023H2. While demand has increased briskly for Artificial Intelligence-type semiconductors, this will not be enough to lift aggregate global chip sales out of contraction. While momentum could push Emerging Asian semiconductor stocks higher in the short term, their share prices are vulnerable to the downside due to shrinking demand.

In this Insight, we answer a few crucial questions: Do the BoC and RBA decisions have any impact on what we can expect from other major central banks next week? Are there any profitable trades that can be put on, given the recent hawkish shift by these two central banks? How should global bond investors be positioned in a fixed income portfolio?

In this Insight, we answer a few crucial questions: Do the BoC and RBA decisions have any impact on what we can expect from other major central banks next week? Are there any profitable trades that can be put on, given the recent hawkish shift by these two central banks? How should global bond investors be positioned in a fixed income portfolio?

A benign disinflation will support equities over the next few quarters. Stocks will fall next year as a recession begins when investors least expect it.

In this insight we propose a watchlist and a screen to help clients navigate the AI Craze.

Slowing manufacturing PMI indices globally indicate the slowdown in economic activity will persist. Manufacturing demand for commodities will also soften, weighing on industrial commodity prices. Geopolitical tensions and the race to the green energy transition will upend enmeshed global supply chains, which will also impact manufacturing activity. It is possible that stimulus in China will arrest the decline in the state’s manufacturing activity, which will have positive spillover effects to its key trading partners.