Chinese retail sales shrunk by a whopping 11.1% y/y in April, significantly below the anticipated 6.6% decline. Consumer staples (food, beverage, medicine and petroleum) are the only categories that did not experience a…
Executive Summary More Chinese Households Intend To Save Than To Invest The Politburo meeting last Friday signaled that China is determined to achieve the 5.5% annual growth target set earlier this year. Policymakers vowed…
Executive Summary Three Problems For European EPS The Chinese economic slowdown in response to COVID lockdowns represents a major headwind for European profits in 2022. Weaker global growth creates another hurdle. The…
Tech stocks led a broader surge in Chinese equity indices on Friday. Alibaba, Tencent, and Meituan – to name just a few – all posted close to double digit daily returns. The broader Hang Seng Index surged 4.01% on the…
Executive Summary German GeoRisk Indicator Russia and Germany have begun cutting off each other’s energy in a major escalation of strategic tensions. The odds of Finland and Sweden joining NATO have shot up. A halt…
China’s equity market is the worst performing major global bourse so far this year. The CSI 300 Index is down 23.6% year-to-date in USD terms. This is even worse than the Euro Stoxx 50’s 19% drawdown amid energy…
Executive Summary Economic Growth in Q2 Will Be Much Softer China’s GDP headline growth in Q1 was better than consensus, but it does not capture the full economic impact of ongoing city lockdowns. Other than…