In today’s briefing:
- Good Morning Japan |Jobs Galore – Strong NFP; Watch for the Fed Hawks; NUGGET: Kuroda Exits..a Hero?
- China Healthcare Weekly (Apr.7)- Pacemaker VBP, FDA Changes Game Rule, Industry Beta Vs Fundamentals
Good Morning Japan |Jobs Galore – Strong NFP; Watch for the Fed Hawks; NUGGET: Kuroda Exits..a Hero?
- OVERSEAS. Good Friday holidays. US Economy proving to be pretty resilient. Non-farm payrolls showed hiring continued to be strong in March. NFP was 236k vs Cons 230k. Telsa cuts prices(again)
- JAPAN. NKY Futs +0.5% vs Cash as US Equity(Cash) markets closed. USDJPY 132.2. Likely see some beta led reversals of losses seen in the latter half of last week.
- NUGGET. Kuroda bids Farewell after 10 years as BOJ Governor. He created a new playbook on monetary policy that will be studied for years. Net-net, positive outcome.
China Healthcare Weekly (Apr.7)- Pacemaker VBP, FDA Changes Game Rule, Industry Beta Vs Fundamentals
- Investors should note that even when there’re technical bottlenecks and domestic enterprises’ products are not yet mature, the government would still start centralized procurement, such as cardiac pacemaker.
- The FDA has changed game rules and tighten the standards for accelerated approval. Together with the IRA, will the US really start limiting drug prices due to economic/financial pressure?
- The relationship between fundamentals and stock prices is complicated. Beta would disappear without fundamentals, because fundamentals include not only objective facts, but also those generated by consensus brought by cognition.
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