Silver has shone this year, especially after it breached a multi-decade downward slopping trendline. Silver is a precious metal, but its heavy usage in industrial processes makes us wonder whether it is sending a bullish message…
The global political system is destabilizing and the US will turn more hawkish in foreign policy, trade policy, or both, regardless of the election outcome. Tactically go long the dollar.
While moving in the right direction, China’s latest stimulus measures are falling short of the mark to reflate the economy. The latest rumors extend this trend. News agencies reported discussions of a CNY 10 trillion…
Global economic surprises have improved. Currently positive and improving in the US, they are rising from a low level in the Eurozone and China. Two explanations could explain this momentum. First, the recent easing in…
Savings must either flow into domestic investment, or abroad. Saving too much, with nowhere to funnel it, is breaking China’s economic model according to our Global Investment Strategy colleagues. As China's share of…
Our Emerging Markets Strategy team sees evidence of a “Trump trade” across markets, as the dollar strengthens, Treasury yields jump, and US small caps try to break out. However, the tactical and cyclical outcomes…
The recent slump in globally- and tech-sensitive East Asian trade shows no respite, with advanced October Korean exports and September Taiwanese export orders data disappointing. Korean exports for the first 20 days of October…
Chinese activity data met expectations, with Q3 GDP printing at 4.6% year-on-year, decelerating from 4.7% in Q2 but below the 5% 2024 growth target. Other metrics such as industrial production and retail sales beat expectations…
September numbers for East Asian trade disappointed across the board. Japanese exports dropped 1.7% year-on-year (YoY) after rising 5.5% in August, and Singapore’s non-oil domestic exports decelerated to 2.7%YoY after…