South Korea
Executive Summary New Orders Of Chips Are Downbeat
New Orders Of Chips Are Downbeat…
Leading Indicators Bode Ill For Global Manufacturing…
Asian Export Figures Remain Bleak…
Macro and geopolitical risks may spoil the narrow window for a stock market rally before recessionary trends rise to the fore.
No, the secular rise in geopolitical risk has not peaked. EU-China trade ties underscore the multipolar context, but this multipolarity is unbalanced, as the US has not reached a new equilibrium with its rivals. While the second quarter is murky, investors should stay defensive this year on the whole.
Remain cautious and defensive overall. Stay long DM Europe over EM Europe. Look for EM opportunities in Southeast Asia and Latin America over Greater China.
Stay short Greater China assets. Stay long Japanese yen. Hold back on Brazil for now but look forward to opportunities in future.
Please note I will be hosting a live webcast on September 29, 2022 at 9:00 AM HKT for the APAC region. I will discuss the global/China/EM macro outlooks and financial market implications. For clients in the Americas and EMEA, we had a webcast on September 28, 2022. You can access the replay via…
Executive Summary Our negative view on the summer rally is coming to fruition, with equities falling back on the negative geopolitical, macro, and monetary environment. China is easing policy ahead of its full return to autocratic government this fall. Yet the Fourth Taiwan Strait Crisis has…
Listen to a short summary of this report. Executive Summary US Lead On Mega-Sized Firms: Is A Peak Nigh?
America's Lead On Mega-Sized Companies: Is A Peak Nigh…