In today’s briefing:
- Good Morning Japan | Equities See Red as Yields Rise; MSFT AI Goes Wild! Tesla in GM’s EV Crosshairs
- GEM Weekly (17 Feb 2023): Chinese Loan Growth, Indian Inflation; Alibaba, POSCO Chemical, NetEase
- The Innovations Portfolio – Week Thirteen
- December Mattress Imports: Units up Sequentially but Down Y/Y
- China TMT Update (Feb.17) – Meituan, PDD, Shein, Tencent, WB – Meituan Is Testing Short Video
- Weekly Stock Bullfinder – Week of 2/20
Good Morning Japan | Equities See Red as Yields Rise; MSFT AI Goes Wild! Tesla in GM’s EV Crosshairs
- OVERSEAS. SPX sees Red for 2nd week; Short yields rise again last week as hot Macro/Fedspeak drive inflation narrative; GM sets sights on Tesla; MSFT AI gets ..well Emotional !
- JAPAN. NKY Futs Flat vs Cash; USDJPY 134.15; Expect little from Japan today with US off for President’s Day; Stealth Immigration as JP loosens up..barely;Deere 2023 outlook Negative Kubota
- DAILY NUGGET. Kubota +15% from the bottom but comments from Deere +7.5% on Small Tractors not supportive.
GEM Weekly (17 Feb 2023): Chinese Loan Growth, Indian Inflation; Alibaba, POSCO Chemical, NetEase
- 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 loan growth, Indian inflation, Thailand GDP
- Companies mentioned:Alibaba Group (9988 HK), Tencent (700 HK), Posco Chemical Co Ltd (003670 KS), Samsung SDI (006400 KS), NetEase (9999 HK), China Renaissance Holdings (1911 HK)
The Innovations Portfolio – Week Thirteen
- The three companies we write about this week are Nike (NKE US) , Capital One Financial (COF US) and Under Armour (UAA US)
- For the thirteen weeks since inception ended 17 Feb the combined innovation portfolio was +2.4%, versus DJIA +0.2%, S&P500 +2.9%, Nasdaq +5.8%, Russell2000 +5.2%, MSCI-ACWI-ETF +4.3%, all in US$ terms
- This week the large-cap portfolio underperformed on a mini Taiwan Semiconductor (TSMC) – ADR (TSM US) sell-off while 10X Genomics (TXG US) was strong in the small caps group.
December Mattress Imports: Units up Sequentially but Down Y/Y
- Herein we address the December 2022 mattress import data posted on the Department of Commerce, US International Trade Commission DataWeb at https://dataweb.usitc.gov.
- We track imports for three specific Harmonized Tariff System 10-digit codes (HTS-10) that define adult mattresses.
- HTS import unit and customs value data are normally posted on the USITC data website ~70 days after the month-end of the month reported.
China TMT Update (Feb.17) – Meituan, PDD, Shein, Tencent, WB – Meituan Is Testing Short Video
- [Daily 1] 3690HK：Meituan is testing short video and live streaming function for food delivery (+); [Daily 2] PDD: Shein is to launch its online marketplace in the US(-)
- [Daily 3] 700HK/WB：WeChat official account makes key updates on image formatting（+/-）
- [Daily 4] 700HK:Supercell 2022 topline down 6% YoY with several challenges(-)
Weekly Stock Bullfinder – Week of 2/20
- Stickier For Longer? Inflation continues to be top of mind for the Federal Reserve and investors as recent economic data continues to throw a wrench in the market’s previously perceived Fed plans for them to pause and then cut interest rates in the back half of 2023.
- The Fed has hiked interest rates from almost zero to nearly 5% within the past year in response to inflation running at historic highs, and it expects to lift them even higher in the coming months.
- Meanwhile, Fed speakers continue to move the terminal rate goalposts by signaling 5.5% or thereabouts terminal rates will cause the “immaculate disinflation” as if this magical fed funds interest rate level and only at this level will inflation continue to moderate downward.
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