Profits of Chinese industrial firms dropped by 22.9% y/y in the first two months of 2023, extending and deepening the contraction that began in July. Notably, the weakness has been particularly pronounced across the manufacturing…
BCA Research’s China Investment Strategy service expects both iron ore and steel prices to drop by 15%-20% from their current levels and they recommend that investors short stocks for global steelmakers and global mining…
The 70-city average price of a new house in China ticked up by 0.3% m/m in February, registering the first monthly increase since August 2021. Notably, this trend is broad-based across Chinese cities with new house prices rising…
China’s victory in getting KSA and Iran to restore diplomatic relations is of far greater consequence to commodity markets than the past weeks’ bank failures in the US. For China, further success in sorting long-standing security…
Chinese data confirms that household spending rebounded in the first two months of 2023. The 3.5% y/y increase in retail sales in January and February follows two consecutive months of declines at the end of last year and…
The odds of achieving a goldilocks scenario in the US where inflation drops amidst robust growth are low. If US bank woes do not escalate, the Fed will continue hiking amid a contraction in US corporate profits and global trade. The…
Chinese money and credit data were stronger than anticipated in February. The CNY 3.16 trillion increase in aggregate financing beat expectations of a CNY 2.30 trillion rise – more than double the increase in February 2022…