This paper outlines the cyclical (six to 12 months) bearish outlook for assets within BCA Research's team. Read more

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 ... Read more

Bear markets are great. To explain, lower prices mean greater future returns. Read more

During and after the global financial crisis, the prices of residential mortgage-backed securities (RMBS) were quite severely impacted; however, since then they are once again proving popular with investors. So, just how risky are they in the current ... Read more

A market neutral strategy should provide meaningful diversifying benefits for investors given the expected low correlation to the underlying equities market. Read more

An initial public offering (IPO) typically presents a snapshot of a business as it prepares to list. There is usually a 'proforma' profit and loss and balance sheet, which means that the accounts are not what actually existed just prior to I ... Read more

The interest rate duration inherent in conventional bond investments is the central diversification play used by most balanced portfolio construction frameworks. Read more

Modern Monetary Theory (MMT) has been gaining attention in recent months - some positive and some not so positive. Read more

In fixed income investing, there are two conventional sources of return that investors are familiar with - collecting interest payments from bonds (i.e. income) and correctly predicting the direction of rates, which delivers capital gains or losses ... Read more

Over the past five years, financial market participants have held more of a negative view of fixed rate bonds given that interest rates were expected to consistently move higher. While rising interest rates are obviously a risk for fixed rate investments ... Read more