Contracting global trade and tightening liquidity will weigh on Singapore stocks in the months ahead. In a recent report, our Emerging Markets Strategy (EMS) team ascertained that global trade volumes will fall as developed…
Dear Client, In lieu of our weekly report next week, I will be hosting two webcasts with my colleague Arthur Budaghyan, Chief Emerging Market Strategist: Time To Buy EM/China? June 23, 2022 9:00 AM EDT (2:00 PM BST, 3:00 PM CEST)…
The MSCI Emerging Markets equity index is up nearly 7% in USD terms over the past month. Does this latest bounce mark the beginning of a sustainable improvement in the performance of EM risk assets? China’s money and…
Chinese credit data for May surprised to the upside. New total social financing rebounded to RMB 2.79 trillion from 0.91 trillion in April. Similarly, loans extended by banks nearly tripled to 1.89 trillion. However, these…
Chinese exports rebounded in May, surging by 16.9% y/y in dollar terms following 3.9% in the previous month. Imports also firmed 4.1% year-on-year after being flat in April. Both export and import growth surpassed market…
Executive Summary Natural Gas Markets Eerily Quiet An eerie calm in European natural gas markets belies the state of war in Ukraine that already is producing a cutoff of Russian natgas supplies in retaliation for the EU…
Executive Summary The Efficient Market Hypothesis (EMH) is flawed. This Holy Grail of financial economics assumes that investors are a homogenous bunch with identical investment horizons, when the reality is that investors have a wide…
According to BCA Research’s China Investment Strategy service, China’s investment focus is shifting from traditional infrastructure to new economy infrastructure. They expect new infrastructure investment in tech and…
After a brief period of stability earlier this year, the Turkish lira has resumed its downtrend. The culprit behind this weakness is dovish monetary policy amid extreme inflationary pressures. Headline CPI inflation accelerated…