A/H Premium Tracker (To 16 Aug 2024): SB/NB Volumes WAAAAAY Down; AH Premia Down Small
SB and NB flows were minimal. But SB continued to buy, NB continued to sell. AH Premia narrowed by about 50bp. Narrow premia narrowing more than...
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A/H Premium Tracker (To 9 Aug 2024): Global Market Vol. SB Bought. NB Sold. Premia Down.
AH Premia 20d returns were at a multi-year high as of 2 August, suggesting they were likely to fall (it's an oscillator), and they did this week....
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A/H Premium Tracker (To 2 Aug 2024): Policy Commentary Supports Consumers, AH Premia Drifting Wider
SOUTHBOUND was a buy. NORTHBOUND was a sell for 4 of 5 days. Hs underperformed their As. Stretching the near-term AH Premium performance limits....
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A/H Premium Tracker (To 26 Jul 2024): SB Bought, NB Sold, HK/China Markets Weak, Spreads Volatile
Spreads were volatile this past week. The narrowest AH Premia saw significant H outperformance while the wider spreads saw much more muted...
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A/H Premium Tracker (To 19 Jul 2024): SB Bought, NB Sold, HK Crushed Vs A-Shares
As HK stocks got crushed during the week and A-shares did well, and SOUTHBOUND did not seem to buy the banks or SOEs, AH Premia jumped. The carry...
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