In today’s briefing:
- New Developments in Postage Fraud Case and US Congress Could Create Big Obstacles for Temu, SHEIN
- Ohayo Japan| Fed Rate Hike End in Sight; NUGGET: More Women on Boards = Higher Valuations?
- [Blue Lotus Macro]: A Job-Creating Stimulus that Also Saves the Real Estate
- Industry Report – Cannabis
- Weekly Sustainable Investing Surveyor Week Ended July 7, 2023
New Developments in Postage Fraud Case and US Congress Could Create Big Obstacles for Temu, SHEIN
- Update on the US postage fraud case we reported on earlier: it’s far more expansive than previously reported, and last week the judge ordered that the trial begin in August
- A new report from the US Congress attacks Temu, SHEIN on two fronts: Xinjiang-made goods and de minimus imports; tighter enforcement or new legislation could soon follow
- It’s unclear how the postage fraud case and growing Congressional concerns will play out; worst-case, both could dramatically undermine the direct-to-US consumer business model
Ohayo Japan| Fed Rate Hike End in Sight; NUGGET: More Women on Boards = Higher Valuations?
- OVERSEAS. SPX rises as investors see end of Fed rate hike cycle; Investors continue to doubt the US bull market; China steps in again to support Real Estate market
- JAPAN. NKY Futs +0.4% vs Cash; USJPY 141.3; “New” NISA eligible funds expand; JP investors buy record foreign bonds in H1; ON THE STREET:Mit Motors to BUY; Toyota to Neutral
- NUGGET. Push for more women on boards continue in Japan – still lagging, but trend is up. Will it play out in valuations? Global Evidence Supportive.
[Blue Lotus Macro]: A Job-Creating Stimulus that Also Saves the Real Estate
- Forty to sixty percent of the world’s carbon emission takes place in buildings. Energy efficiency job is the single largest component that balances the job loss
- In traditional energy and job gain in renewable energy. China is materially behind the US in energy efficiency; We believe inclusion of energy efficiency in the upcoming stimulus package
- Will be a sound choice to boost employment and GDP, and our listed companies in the new energy sector shall benefit from the trend.
Industry Report – Cannabis
- After a strong 1H23, global equities were down this week. The MSCI World Index fell 1.42%, while the S&P 500 dropped 1.06%.
- The decline was driven by strongerthan-expected labor market data and concerns that this may make the Fed less accommodating.
- The Russell 2000 finished the week down 1.32%, while the NASDAQ declined 0.92%.
Weekly Sustainable Investing Surveyor Week Ended July 7, 2023
- WTR Sustainable Index: During the week ended July 7, 2023, the WTR Sustainable Index outperformed the broader market, rising 3.3% W/W versus the S&P 500 Index (down 1.2%), the Russell 2000 Index (down 1.3%), and the Nasdaq Composite Index (down 0.9%).
Advanced Transportation Solutions (75.2% of the index) contributed to the index’s outperformance, rising 4.7%, while Energy Technology (6.5% of the index) was up 0.4% and Industrial Climate and Ag Technology was down 0.8%.
Valuation: Based on forward 12-month consensus estimates, the current P/E ratio of the WTR Sustainable index is 25.3x versus 20.5x for the S&P 500.
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