Fed Outlook: Near-Term Versus Medium-Term

BCA’s medium-term House View is that the Fed will not be able to tighten much in 2015, and may even have to postpone rate hikes into 2016. But, robust job creation will sustain Fed talk of a mid-2015 rate hike in the near term. According to B … [More.]

Financial Markets: Déja Vu

Earlier this year our Global Investment Strategy service invoked the experience of the second half of the 1990s as the key reference point for what might happen in global financial markets. The rationale is that there are many economic and financial … [More.]

On Offer: Long-Term Value In European Equities

The five favorite structural valuation metrics of our European strategists – the CAPE, price to peak earnings, price to sales, market cap to GDP, and Tobin’s Q – all give the same reassuring message. European equities are at fair value, or even sligh … [More.]

Are Australian Equities A Buy?

The performance of Australian equities has been dismal: Aussie share prices have lagged the global benchmark by over 30% since 2010. According to our Global Investment Strategy service, relative valuations have not cheapened enough to sufficiently … [More.]

U.S. Treasury: A Classic Supply Shock?

The collapse in oil prices at the end of last week sent Treasury yields plunging back toward year-to-date lows. According to our U.S. Bond Strategy service, Treasury market moves are consistent with a classic supply shock in oil … [More.]