AI Generated Content, Heteronomics

Heteronomics AI

AI Generated Content

Heteronomics

Heteronomics represents a different kind of economics. We believe analysis should delve into the details of what is really going on, rather than using overly simplistic assumptions to quick-sell stories. Independence from myopic institutional pressures allows us to focus on the realities underlying your asset allocation decisions, without the conflicts of the old market structures. Heteronomics targets the themes driving UK asset prices, offering the benefits of depth, independence and ultimately price.

UK-centric macro research

Macroeconomics

<ul><li>Banxico cut by 25bp to 7%, broadly in line with expectations, but signalled a de facto pause with a more data‑dependent approach to future easing.</li><li>Sticky core inflation and upward‑revised forecasts for early 2026 mean additional cuts are unlikely before mid‑2026, keeping real rates above neutral for now.</li><li>A 4–1 split vote and fiscal/trade‑related upside risks to inflation argue for a prolonged hold in Q1 2026, limiting the scope and speed of the remaining easing cycle.</li></ul><div><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></div>

Banxico cut by 25bp to 7%, broadly in line with expectations, but signalled a de facto pause with a more data‑dependent approach to future easing.Sticky core inflation and upward‑revised forecasts for early 2026 mean additional cuts are unlikely before mid‑2026, keeping real rates above neutral for now.A 4–1 split vote and fiscal/trade‑related upside risks to inflation argue for a prolonged hold in Q1 2026, limiting the scope and speed of the remaining easing cycle.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Asian Economist

Kok Peng Chan

<ul>
<li>China’s low consumption ratio is driven by structural constraints—stagnant labour income, early and rapid household leverage, heavy debt burdens, declining workforce and persistent precautionary saving</li>
<li>Such constraints on household consumption mean recent policy announcements to expand overall domestic demand will take longer than expected to deliver a durable consumption-driven Chinese economy</li>
<li>China’s ten-year bond yield appears to recognise this reality, pricing in persistently weak nominal growth and subdued domestic demand rather than a consumption-driven reacceleration. It is now lower than Japan</li>
</ul>


China’s low consumption ratio is driven by structural constraints—stagnant labour income, early and rapid household leverage, heavy debt burdens, declining workforce and persistent precautionary saving
Such constraints on household consumption mean recent policy announcements to expand overall domestic demand will take longer than expected to deliver a durable consumption-driven Chinese economy
China’s ten-year bond yield appears to recognise this reality, pricing in persistently weak nominal growth and subdued domestic demand rather than a consumption-driven reacceleration. It is now lower than Japan


China’s Consumption Push: Will It Take Off?

Insight Provider, CrossASEAN Research

Nicolas Van Broekhoven

Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Thematic (Sector/Industry)

<ul>
<li>The 2025 vintage of "5 High Conviction Ideas" showed a positive return for all five picks.</li>
<li>Our best performer was <a href="https://www.smartkarma.com/entities/arras-minerals-corp-0103ceb3-3087-43a7-8e88-cf54392e4429" target="_blank" data-smartkarma-citation="entities:41542:1" rel="noopener">Arras Minerals (ARK CN)</a>, which was up +150%, closely followed by <a href="https://www.smartkarma.com/entities/solaris-resources-inc" target="_blank" data-smartkarma-citation="entities:40176:1" rel="noopener">Solaris Resources (SLS CN)</a>, which gained 139% for the year. </li>
<li>Our 2025 vintage was heavily copper-focused, our 2026 new favorite list is more diverse across sectors and regions.</li>
</ul>


The 2025 vintage of "5 High Conviction Ideas" showed a positive return for all five picks.
Our best performer was Arras Minerals (ARK CN), which was up +150%, closely followed by Solaris Resources (SLS CN), which gained 139% for the year. 
Our 2025 vintage was heavily copper-focused, our 2026 new favorite list is more diverse across sectors and regions.


Overview of My Winners and Losers in 2025...and 5 High Conviction Ideas Going Into 2026

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

Cross Asset Strategy

<ul>
<li>EM allocations in Global funds have broken out of a multi-year range, reaching the highest level since 2019 as underweights narrow.</li>
<li>The move is led by Taiwan, China &amp; HK, and South Korea, with strong inflows and rising fund participation.</li>
<li>Despite the shift, EM exposure remains shallow and concentrated, making higher allocations a clear point of differentiation.</li>
</ul>


EM allocations in Global funds have broken out of a multi-year range, reaching the highest level since 2019 as underweights narrow.
The move is led by Taiwan, China &amp; HK, and South Korea, with strong inflows and rising fund participation.
Despite the shift, EM exposure remains shallow and concentrated, making higher allocations a clear point of differentiation.


Breaking the Range: EM Reclaims Attention in Global Portfolios

Independent in-depth research from Finimize, Finimize

Finimize Research

Independent in-depth research from Finimize

Finimize

Finimize is the #1 information platform for modern investors. We empower people to become smarter investors with bitesize insights from world-class analysts. 1 million+ strong community, 250 partners.

<ul>
<li>The outside view matters most: every major tech revolution in history ended up with overinvestment and a painful reset, making crashes the rule, not the exception.</li>
<li>The inside view always feels unique all the time – but eye-watering spending, speculative capital, financial engineering, and the belief that “this time is different” were present in past frenzies, too.</li>
<li>You don’t need to time the top: build a more resilient portfolio by trimming your profit, limiting position sizes, avoiding crowding, while using diversification, trend rules, or selective hedges.</li>
</ul>


The outside view matters most: every major tech revolution in history ended up with overinvestment and a painful reset, making crashes the rule, not the exception.
The inside view always feels unique all the time – but eye-watering spending, speculative capital, financial engineering, and the belief that “this time is different” were present in past frenzies, too.
You don’t need to time the top: build a more resilient portfolio by trimming your profit, limiting position sizes, avoiding crowding, while using diversification, trend rules, or selective hedges.


Your AI Super Forecast: Will It Boom Or Bust?

Mexico
Insights on Mexico

Mexico: Closing the Easing Door

Banxico cut by 25bp to 7%, broadly in line with expectations, but signalled a de facto pause with a more data‑dependent approach to future...

Heteronomics AI

China’s Consumption Push: Will It Take Off?

This report shows why China’s consumption push faces structural limits, why rate cuts won’t work, and how delayed reform raises risks for equities,...

Kok Peng Chan

Overview of My Winners and Losers in 2025...and 5 High Conviction Ideas Going Into 2026

The 2025 "5 High Conviction Ideas" vintage had positive returns, with Arras Minerals and Solaris Resources leading the way. The 2026 list is more...

Nicolas Van Broekhoven

Breaking the Range: EM Reclaims Attention in Global Portfolios

EM allocations are breaking out in Global portfolios, led by Taiwan and China & HK. Underweights are narrowing, but exposure remains...

Steven Holden

Your AI Super Forecast: Will It Boom Or Bust?

Let’s not waste time blowing bubbles: we won’t know we’re in one until it bursts, after all. Instead, let’s see if we’re in for a crash – and more...

Finimize Research

Mexico: Closing the Easing Door

Banxico cut by 25bp to 7%, broadly in line with expectations, but signalled a de facto pause with a more data‑dependent approach to future...

Heteronomics AI

China’s Consumption Push: Will It Take Off?

This report shows why China’s consumption push faces structural limits, why rate cuts won’t work, and how delayed reform raises risks for equities,...

Kok Peng Chan

Overview of My Winners and Losers in 2025...and 5 High Conviction Ideas Going Into 2026

​The 2025 "5 High Conviction Ideas" vintage had positive returns, with Arras Minerals and Solaris Resources leading the way. The 2026 list is more...

Nicolas Van Broekhoven

Breaking the Range: EM Reclaims Attention in Global Portfolios

EM allocations are breaking out in Global portfolios, led by Taiwan and China & HK. Underweights are narrowing, but exposure remains...

Steven Holden

Your AI Super Forecast: Will It Boom Or Bust?

Let’s not waste time blowing bubbles: we won’t know we’re in one until it bursts, after all. Instead, let’s see if we’re in for a crash – and more...

Finimize Research

The 2025 "5 High Conviction Ideas" vintage had positive returns, with Arras Minerals and Solaris Resources leading the way. The 2026 list is more...