Macro Strategy: Renewed Interest
A reduction in the Treasury issuance target in 4Q, FOMC’s rate pause, and weaker US job data are seen as the main factors behind the recent surge...
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Equity Strategy: 3Q23 EPS growth improved, expect more growth catalysts in 4Q23
The market’s overall earnings improved in 3Q23 with operating profits growth rebounding to -4% yoy/+13% yoy ex-mining vs. 2Q23’s -6%/+11% yoy
240 Views
Macro Strategy - Unprecedented Rate Hike: Pre-Emptive Measure
This decision was unexpected, going against both our and consensus predictions of a stable policy rate. Such move was taken as a proactive step to...
329 Views
Equity Strategy - Risk Premium May Stay Elevated, but Growth Outlook Still Intact
We maintain our JCI 7k end-FY23 target and introduce our bull/bear case scenarios of 7,320/6,760. The JCI’s -1.1% wow correction from Oct 16-20 has...
308 Views
Macro Strategy & Flows Trackers: Navigating the Volatility
Macro Strategy & Flows TrackersNavigating the VolatilityIn the absence of a change in rate policy, a surge in yield volatility is a rarity
284 Views