The virtual summit between Presidents Joe Biden and Xi Jinping on Monday evening did not produce a major change in the bilateral relationship. President Biden initiated the meeting with the objective of ensuring that any…
Chinese retail sales and industrial production data for October surprised to the upside. Retail sales growth accelerated slightly from 4.4% to 4.9% y/y and beat expectations of a slowdown to 3.7%. Similarly, industrial production…
Highlights Geopolitical conflicts point to energy price spikes and could add to inflation surprises in the near term. However, US fiscal drag and China’s economic slowdown are both disinflationary risks to be aware of. …
BCA Research’s Emerging Markets Strategy service expects Philippine sovereign credit to outperform its EM counterparts. A negative outlook on overall EM sovereign credit warrants overweighting Philippine sovereign credit…
Highlights So far, both the demand and supply side of the Philippine economy have been rather weak; yet there are signs that growth is set to revive. Fiscal expenditures have bottomed. Bank lending is also reviving. Acceleration in…
Chinese inflationary pressures intensified in October. PPI inflation accelerated from 10.7% to a 26 year high of 13.5% y/y, beating the anticipated 12.3% increase. Price pressures are particularly acute among PPI producer goods:…
Dear Client, Next week I will be hosting and attending client events, both virtual and in person. Our next report, on November 24 will be a recap of my observations from the meetings with our clients. Best regards, Jing Sima China…
China’s trade surplus expanded to a record $84.5 billion in October – above the prior month’s $66.8 billion and expectations of $64.0 billion. The wider surplus reflects a 27.1% y/y jump in exports versus an…
The meltdown in China’s property bond market shows no signs of abating. The most recent cause for concern is Kaisa Group whose shares were suspended on Friday after it missed an interest payment. Kaisa is just the latest in…
Korean CPI inflation surged in October. The headline figure accelerated to 3.2% y/y from 2.5% – the fastest annual pace of increase since January 2012. Similarly, the core measure jumped to 2.8% y/y from 1.9%. These…