In today’s briefing:
- The Bond Market Is Talking: Are You Listening?
- CX Daily: Rival Ride-Hailing Apps Challenge Didi in World’s Biggest Market
- EA: Huge Final HICP Print Trimmed Again
- CX Daily: What’s Next for China’s Covid Vaccine Strategy?
- Thailand Health Care Recovery
The Bond Market Is Talking: Are You Listening?
- Over the last 30 days, a lot has happened under the surface in bond markets.
- And no, it’s not as simple as ‘‘bond markets now think the Fed will pivot’’.
- Let’s instead look into three interesting dimensions that carry a lot of informational value: curve slopes, volatility and implied Central Bank rates.
CX Daily: Rival Ride-Hailing Apps Challenge Didi in World’s Biggest Market
In Depth: Rival ride-hailing apps challenge Didi in world’s biggest market
Xi calls for improved China-Australia relations at G-20
Indonesia IT minister plays up opportunities in country’s digital transformation
EA: Huge Final HICP Print Trimmed Again
- The final print of EA HICP inflation trimmed the flash again in Oct-22 to 10.6%. Italy drove this revision, as we previewed last week, but it remains far too high.
- Underlying inflationary impulses have increased in some countries and are generally stuck near their highs. This resilience in the euro area remains a significant concern.
- We fear a repeat of the forecast drift pushing peak inflation higher, which would encourage the ECB to hike by 75bps again. So there are upside risks to our views.
Thailand Health Care Recovery
- Thailand Health Care is back in favour among active EM investors.
- Average weights soar to all-time highs, driven by buying in Bumrungrad Hospital and Bangkok Dusit Medical Services
- This clear shift in sentiment could open the door for further investment from the 80% of managers who are yet to hold a position.
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