Asia
China's Q2 Economic Growth Disappoints…
China's Credit Slump Looms As Third Plenum Approaches…
The Philippines: Can Rate Hikes Stop The Peso Slide…
China Faces Daunting Challenges…
The Indian Stock Rally Is Running On Fumes…
The PBoC Will Resist a Swift RMB Devaluation…
Is the RMB cheap or expensive? Based on trade accounts, the yuan is inexpensive, but the RMB is vulnerable due to capital outflows. Yet, Beijing will not resort to a rapid devaluation for now, and the option of floating the currency is improbable. The PBoC will allow a gradual depreciation of the yuan versus the dollar, say around 5%, in the next six months.
Are Chinese Bond Markets Due For A Reversal…
The PBoC appears increasingly uncomfortable with the rapid decline in the Chinese government bond yields. While the PBoC will succeed in temporarily curbing investors’ enthusiasm for bonds, the central bank will be unwilling to raise interest rates and unable to intervene in the bond market in any meaningful and lasting way.
From Which Chinese PMI Should Investors Take Their Cue…