PMI and Business Confidence in China Remains Robust
With regards to the latest PMI and business confidence data, businesses are reporting mild declines from recent highs. Yet, given the relative...
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China Flash Comparison: Activity Remains Robust
We believe there is greater reason for optimism than is widely expected though numbers are coming off of highs. This process of coming off of...
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What Is Happening with the RMB?
Taking all the data into account, we believe the RMB is falling because the USD is rising. The relationship between USD and RMB are inversely...
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Wholesale Funding Remains Vitally Important to Chinese Banks
A compelling takeaway from all of this is that Chinese banks remain heavily dependent on interbank and PBOC liquidity provision. We believe the...
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Summer Blues - Asian And The EM-6 Crises
I have the blues. Summer has finally arrived, even in London. Markets should be quiet. We should be packing our sun screen, books and swimming togs...
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