Emerging Markets
Semis Distort The Message From Global Growth Indicators…
Metals Will Catch Up To Fundamentals…
Investors should de-risk tactically in expectation of shocks and surprises ahead of the US election and an uncertain aftermath. Democratic victory with a gridlocked Congress is our base case but would bring minor tax hikes and nuclear brinksmanship with Russia. A Republican single-party sweep offers huge tax cuts but also a global trade war. Recession looms regardless.
Lower Mortgage Rates Won’t Move The Needle In China…
Semiconductors Distort The Message From Asian Trade…
Chinese Loan Growth Decelerates In August…
Short BYD As A Powerful Strategic Trade…
What To Watch
What To…
Heed The Signal From Commodities…
The Fed’s Upcoming Rate Cut And The RMB…