In today’s briefing:
- Singapore Politics: Don’t Be Misled by Tharman’s Landslide in Presidential Poll
- ASEAN Economics: A Shot in the Arm for Singapore-Johor Integration?
- 5 Things We Watch – ISM, Energy, German manufacturing, US labor market, Global Rates
- CX Daily: Beijing Passes Law Allowing Foreign States To Be Sued In China
- Services Week: What to Buy if Manufacturing Rebounds While Services Weaken?
- Out of the Box #17 How would US exceptionalism flip the table for the RoW?
Singapore Politics: Don’t Be Misled by Tharman’s Landslide in Presidential Poll
- Tharman Shanmugaratnam’s landslide win in Singapore’s presidential election was largely an affirmation of his personal appeal, rather than voter support of the government.
- While voters prioritized the candidates’ qualities for the presidency in this election, this does not mean grouses over political trends or economic troubles have been forgotten.
- The new presidency is part of a broader political transition, as deputy premier Lawrence Wong is positioned for the top job. He ultimately faces a more demanding electorate.
ASEAN Economics: A Shot in the Arm for Singapore-Johor Integration?
- Moves are underway by the Malaysian and Singaporean governments to improve economic integration between the city-state and Malaysia’s southernmost Johor state.
- Economic challenges on both sides are prompting governments to reconsider Johor’s Iskandar Development Region which had been designed to integrate with Singapore.
- Closer integration could be transformational for both sides but it still hinges on sufficient political will and policy creativity to overcome the obstacles.
5 Things We Watch – ISM, Energy, German manufacturing, US labor market, Global Rates
- Happy Wednesday, and welcome back to our weekly edition of 5 Things We Watch, where we take you through the 5 things that we are keeping an eye on in the global macro landscape currently.
- We are in the middle of our services week, where we address what will happen in asset markets if services keep weakening, and if manufacturing rebounds simultaneously.
- Follow along to get a sneak peak of what we are doing in the services week, as well as the other things that are going on in global macro currently.
CX Daily: Beijing Passes Law Allowing Foreign States To Be Sued In China
- Law /: Beijing passes law allowing foreign states to be sued in China
- Private /: China creates new agency to support private sector
- PMI /: Growth in China services sector slows as exports shrink, Caixin PMI shows
Services Week: What to Buy if Manufacturing Rebounds While Services Weaken?
- This week’s theme is the weakening in the services sector amidst manufacturing potentially looking to rebound.
- We aim to cover all asset classes, what to buy, what to sell, and what to expect next in the months to come when it comes to both US and global PMI’s.
- Today’s services PMI’s from the EZ showed further signs of the European services sector weakening, with both Spain and Italy surprising to the downside of expectations of a >50 reading.
Out of the Box #17 How would US exceptionalism flip the table for the RoW?
- US exceptionalism and shifting trade patterns benefit near-shoring names and commodity suppliers.
- The US policy goal is essentially protectionist but plenty of competition among suitors from the China de-coupling.
- We think US services will start to ease and that equities relying on Service spending will be facing headwinds and adding further strain on the UK.
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