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Strategy Report

Parsing Chinese Data: Not Much Of A Recovery

by Arthur Budaghyan, Chief EM/China Strategist   Ayman Kawtharani,   

There has not been much of an improvement/recovery in the Chinese economy. Credit growth is weakening anew, which warrants a downbeat cyclical outlook for China's industrial sectors. Malaysia is heading into a classic credit/banking downturn. Go short Malaysian banks stocks and short the ringgit versus the U.S. dollar. In South Africa, take profits on the yield curve flattening trade. Continue shorting the rand versus the U.S. dollar.

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BCA Research | Emerging Markets Strategy

Critical input for global and EM investors as it provides global macro investment themes as well as recommendations for EM equities, currencies, and fixed income.  

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