Independent Insight Provider

Hao Wang, CFA

Thematic (Sector/Industry)

China Energy / Thematic (Sector/Industry)

<p>This is a quick note on macro views in 2016. The analysis is largely based on cycles of industrial production, inventory levels, real estate investment, monetary policies and fiscal policies.</p><p>To establish a view on commodities, equity, fixed income or other asset classes, we need to have a solid view on two biggest swing factors: US dollar and China's economy. My views are: slightly weaker dollar in first half 2016 followed by a much stronger dollar in 2nd half; China's economy may see short term…</p>

This is a quick note on macro views in 2016. The analysis is largely based on cycles of industrial production, inventory levels, real estate investment, monetary policies and fiscal policies.To establish a view on commodities, equity, fixed income or other asset classes, we need to have a solid view on two biggest swing factors: US dollar and China's economy. My views are: slightly weaker dollar in first half 2016 followed by a much stronger dollar in 2nd half; China's economy may see short term…

Inner Mongolia Baotou Steel Union (600010 CH)

China Northern Rare Earth Group High-Tech (600111 CH)

China Northern Rare Earth Group High-Tech

Jiangsu Kangde Xin Composite Mtrl Co (002450 CH)

Be Aggressive in Q1 2016 and Be Defensive Through Rest of 2016