Our Global Investment strategists argue that AI threatens the traditional profit engines of large technology firms despite ...

Marko PapicChief Strategist, Access & GeoMacromarko@bcaresearch.com ...

Europe’s fiscal debate has resurfaced as interest rates normalize and new spending pressures emerge. Yet alarmism is misplaced. Aggregate debt levels are high but broadly stable, servicing costs ...

The oil supply disruption has flipped market sentiment from risk-on to risk-off. How long will this defensive phase last, and how severe will the drawdown be? We caution against trying to catch a ...

Iran doesn’t need to sink a single US warship; it could inflict much more damage by sinking the US stock and bond markets by disrupting shipping, trade, and oil tankers with decentralised low-tech ...

FX often looks random because no single model dominates across regimes. We lay out our long-term framework anchored in valuation, productivity, external balances, and the fiscal-monetary mix to ...

US assets have underperformed year-to-date, but BCA views differ on the tactical versus 12-month outlook. Since the start of the year, US markets have lagged the rest of the world, largely driven by ...

The threat to global energy supplies has risen sharply following the weekend launch of the joint US-Israeli Operation Epic Fury. Accordingly, crude oil and European gas prices have spiked. Even so, we ...

A key risk to our view has materialized. Our base case remains constructive, but risks have increased. Upgrade Tail Risk Strategies from overweight to max overweight. Upgrade Canadian equities and the ...

Middle East hostilities have triggered risk-off moves and pushed oil prices higher. Previous geopolitically driven oil price disruptions suggest that speed, persistence and equity market vulnerability ...

In the short term, there is plenty to be worried about in macro beyond the Middle East. The market was on thin ice before the Iran conflict. In the long term, the base case scenario remains bullish, ...