In today’s briefing:
- Small US Banks – CRE Acceleration
- China TMT Update (May.9) – 1877.HK/Bidu/1801.HK – JUNSHI and Dr. Reddy Signed Agreement
- The Highlights : Cannabis News for the Week Ending May 5, 2023
Small US Banks – CRE Acceleration
- Small US banks are showing sharply higher CRE loan growth in recent weeks
- We would not view this as positive, and more likely off B/S moving on B/S
- CMA shows clear 1Q23 deterioration in CRE loans, perhaps others too
China TMT Update (May.9) – 1877.HK/Bidu/1801.HK – JUNSHI and Dr. Reddy Signed Agreement
- 1877HK：JUNSHI and Dr. Reddy signed low ball license out agreement for India, Latin America, South Africa and Oceania (-)
- BIDU : Baidu’s Xiaodu will enter smart phone industry (+)
- 1801HK： Innovent and Lilly will fight in obesity/diabetes drug. Positive for Innovent but not positive enough (+)
The Highlights : Cannabis News for the Week Ending May 5, 2023
- It was a volatile week for stocks, as investors digested the latest interest rate news and jobs report.
- On Wednesday, the Federal Reserve raised the benchmark rate by a quarter of a point, marking the 10th straight rate hike.
- The Fed hinted it may soon pause the rate-hike cycle.
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