Bullish case for macro outlook
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BCA Research has been the market's leading source for independent global macro research for 70 year. Occasionally, this independence has resulted in strongly diverging views. Today, two views on the cyclical (six to 12 months) outlook for assets have emerged: bullish and bearish.

This paper outlines the arguments from the bullish camp, which expects global growth to rebound in the second half of the year. Along with accelerating growth, it anticipates stock prices and risk assets to remain firm, cyclical equities to outperform defensive ones, safe-haven yields to move up, and the US dollar to weaken.

The presenters outlined their arguments for the bullish camp in the roundtable discussion reproduced in this paper.

The panel comprised:

- Peter Berezin, chief global investment strategist, BCA Research.

- Doug Peta, chief U.S investment strategist, BCA Research.

- Rob Robis, chief global fixed income strategist, BCA Research.

The conversation was moderated by Mathieu Savary, BCA Research's bank credit analyst strategist.

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