In today’s briefing:
- GEMWeekly (17 Nov 2023): China, Malaysia Macro; Alibaba, JD.com, Tencent
- US Banks – Weekly Balance Sheets, Negative C&I Growth, Nearly First Time This Year, Other Negatives
GEMWeekly (17 Nov 2023): China, Malaysia Macro; Alibaba, JD.com, Tencent
- The Global Emerging Markets Weekly provides a summary of the key news and related developments impacting the largest countries and constituents of the Global Emerging Markets equity indices.
- Macro data points: Chinese industrial production and retail sales, Malaysia GDP growth.
- Companies mentioned:Alibaba Group Holding (9988 HK), JD.com (9618 HK), Tencent (700 HK)
US Banks – Weekly Balance Sheets, Negative C&I Growth, Nearly First Time This Year, Other Negatives
- There was one week of data where large US banks showed -0.1% YoY growth in commercial and industrial (C&I) but the most recent week is -1.0% so more solidly negative.
- Cash balances continue to show YoY growth at double digit, now at 18.4% suggesting limited demand, and still banks having risk-aversion.
- Jumbo time deposit growth remains extraordinary at 118% YoY in most recent week, and this money is more expensive than other time deposits.
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