Economics and Macro Strategy
Trade war worries have, ironically, put America First. The economic outlook, both public and private expectations, has skewed in favour of the US vs Eurozone and Asia
Inherent inflation/growth momentum is likely to persuade the ECB to cease QE purchases come December. But the outlook will be cautious, keeping the ECB data dependent thereafter.
Working hours are falling across the developed world even as incomes rise. In 2030, we believe the two sectors that will benefit the most will be tourism and discretionary consumption.
We believe China will house eight mega cities by 2030. In 2030, our analysis suggests that Shanghai and Shenzhen will replace Hong Kong to become the largest Grade A office markets.
The CCCS is inviting public feedback on the proposed remedies. The closing date for the public consultation submission is 19 July 2018.
For more on our Top Ideas’ performances, please check out the PDF.
U.S.-listed ETFs posted weekly inflows of $8,533.68 million, bringing its YTD inflows to $131.15 billion. The U.S. ETF marketplace closed at $3,585.10 billion in total AUM.
The full list of the goods can be found in the PDF.
China’s economic growth slowed slightly to 6.7% YoY in 2Q18. Further Reserved Required Ratio cut are expected amid weakened domestic and external demand. Expect the CNY to remain under pressure
A strong upturn in 1Q18 notwithstanding, near-term risks have intensified.
Chinese stocks entered a bear market in June. The slide was largely attributed to liquidity shortage, bond default, and the escalating trade spat with Washington.
Implied rates diverged from USD/Asia; steeper INR curve ahead
China’s 2Q18 GDP growth is expected to moderate to 6.7% y/y on the back of softer domestic demand.
With rate hike risks back on the table, 7% is likely to mark a floor for the 2Y yields.Meanwhile, the greenback will be looking for a lift from Friday’s US nonfarm payrolls. For more on currenc...
However, the nation now flirts with easier monetary policy amid slowing growth
Trump lashes Fed over raising interest rates, Germany’s carmakers face collusion probe
China's yuan tumbles as PBOC weakens fixing
Asia is set to lead the development of the IoT and AI in the coming years ahead. Our estimates indicate that the IoT will reach the inflection point of 18-20% in 2019.
With about 40% of their service revenue at risk in Asia, telecom operators have had to transform themselves into digital players. But some are going down the wrong route.
We explore the changing face of online advertising in China, where both advertisers and platforms are becoming more sophisticated in the way they spend and make money. Tencent, Baidu, and Alibaba wil...