Daily Brief Thematic (Sector/Industry): Good Morning Japan | No Shortage of Equity Negative News; BOJ to Stay Pat; Bullish 2023 ? and more

In today’s briefing:

Good Morning Japan | No Shortage of Equity Negative News; BOJ to Stay Pat; Bullish 2023 ?
Interpretation of China’s Central Economic Work Conference for 2023
Weekly Stock Bullfinder – Week of 12/19

Good Morning Japan | No Shortage of Equity Negative News; BOJ to Stay Pat; Bullish 2023 ?

OVERSEAS: SPX down 4 in a row, -20%YTD; Higher UST Yields and Negative Homebuilder print pressure equities; Chief Twit’s followers want him out; China hints strong economic support in 2023
JAPAN: BOJ to stay pat; JP FY23 Budget largest ever; Kawasaki Kisen to lift ShrHldr Returns; Subaru gives up on PHVs; Toyota CEO thinks mkt not ready for EVs
DAILY NUGGET: We take a look at the upcoming boom in Hydrogen in the push to decarbonise; Our preferred play is MHI (7011)

The annual Central Economic Work Conference was held to plan for 2023. We analyzed our interpretation. Sometimes we need to be “romantic” to understand some basic assumptions.
China’ll be more committed to economic growth after the big shift in COVID policy. However, we may face a situation where both domestic and external demand would weaken next year.
When paying attention to changes, we should see whether the external environment supports such changes. For investors, our advice is that many things should be done according to the trend.

“Fed economic projections published December 2021: In 2022 the Fed funds rate will be less than 1% & GDP growth will be 4%.
In December 2022 the Fed funds rate is now 4.25% and 2022 GDP growth they now show is at 0.5%. Why is anybody still listening to these people?
Nobody is asking for perfection which is impossible, but the Fed has again, and they’ve done this multiple times including last year with inflation, produced forecasts not even remotely close to reality. Their forecasts are meaningless with zero predictive value.

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