China (Underweight): Equities Driven by Stimulus & Flows, Not Reform (Part 2 of 6)
Main Conclusions There is no immediate indication of an end to either of the twin flows into Chinese offshore equities, namely global investors...
149 Views
Rising Moral Hazard and Governance Issues Around Tech Threaten EM Bull Case
The steady rise in most global equity markets over the first half of this year has been mainly driven by the weakness of the USD (USD CURNCY),...
168 Views
How Chinese Banks Understate Foreign Liabilities and Facilitate Implied Outflows
Chinese banks are using foreign exchange swaps to understate their foreign liabilities to fund foreign asset purchases. This helps facilitate...
156 Views
Dollar Saved by the Fed
The USD was in crucial danger of being slammed last week after weak CPI inflation data, but has been saved by the Fed sticking to its guns. The...
125 Views
Offhore Yuan USDCNH : On Levels for a Possible Last Downleg Before a New Rise Back to 6.9200/7.0000
PBOC intervention following Moody’s downgrade has pushed the currency higher.However, it seems that the offshore yuan USDCNH cross has reached a...
108 Views