Executive Summary The RMB And Real Interest Rates The RMB has overshot and will likely consolidate gains in the coming months. The said, the yuan remains underpinned by a current account surplus, positive real rates, and a…
Executive Summary US Equity Drawdowns During Geopolitical Crises/Commodity Shocks The most recent examples of geopolitical and commodity price shocks similar the current one include the Cuban missile crisis in 1962,…
BCA Research’s Emerging Markets Strategy service recommends investors pay Polish / receive Czech 10-year swap rates. The Czech National Bank (CNB) has hiked its policy rate by 425 bps since June 2021. This has produced…
Chinese investable stocks have collapsed 12.4% since the start of the Russia-Ukraine war in late-February. The MSCI investable index is now at its mid-March 2020 pandemic low. Several factors are contributing to the selloff.…
Price pressures in China eased in February. The producer price index increased by 8.8% – the slowest pace in eight months and below January’s 9.1% y/y growth rate. Meanwhile, CPI inflation was unchanged at January…
Taiwanese exports surged 34.8% y/y in February – accelerating from January’s 16.7% increase and more than double expectations of 15.7% y/y. In particular, exports of electronic product parts – which account for…
Executive Summary Euro Natgas Soars; LME Nickel Squeezed Russian Energy Minister Alexander Novak's threat to halt shipmentsof natgas on Nord Stream 1 to Europe lifted European gas prices 25% overnight, and will…