A change in market leadership may be imminent. Plus, an index-beating U.S. dividend portfolio strategy

BofA Securities strategist Ritesh Samadhiya has an extremely bullish forecast for global profit growth in a new report, one that may help answer one of the most important questions for active investors – is it time to buy more economically sensitive cyclical stocks?

The strategist focuses on BofA’s proprietary Global Wave Indicator, which uses global industrial and consumer confidence, capacity utilization, employment, producer prices, credit spreads and analyst earnings revisions to predict corporate profitability. The indicator has completed a troughing process and is moving higher, a situation in the past that has resulted in a median 25 per cent global equity rally in the subsequent 18 months. Improvement in BofA’s Canada Cycle Indicator is part of the recovery in the Global Wave fund was launched in March and owns shares in hot tech startups like the payments firm Stripe, the rocket maker SpaceX and the artificial intelligence company OpenAI.

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