The fiscal stimulus announced at this year’s National People’s Congress is only slightly larger than last year’s. Notably, the details of the measures suggest that it will be challenging for fiscal stimulus to effectively…
China’s February Caixin PMIs showed growth remains tepid. The composite ticked up to 51.5 from 51.1. Services are still showing a very faint expansion at 51.4, with manufacturing ticking up to 50.8. The message from the official NBS…
The tariffs on Canada and Mexico will come into effect as scheduled while the tariffs on China will be doubled. In the Middle East, Iranian response to any attack will threaten Middle Eastern oil supply. Meanwhile, Chinese fiscal…
US January core new orders beat expectations, rising 0.8% m/m, an acceleration from 0.2% in December. This measure, which excludes defense and aircraft from capital goods, is used as a proxy for business investment. Core shipments…
US growth has slowed in recent weeks. This can be seen in the weaker data on retail sales, consumer confidence, services PMIs, and a swath of housing releases (notably starts, existing home sales, homebuilder confidence, and stock…
This week, our three screeners cover equity plays in European Defense, Chinese Tech, and “Boring Stocks”.
DeepSeek's AI breakthrough will likely enhance China’s productivity gains. But does it justify a re-valuation in Chinese tech stocks? Sustaining the Chinese tech rally will require corporate profits to overcome the pressures of…
China’s January monetary and credit data was solid. New yuan loans increased by CNY 5.1 trillion, while aggregate financing was up by 7.1 trillion. M1 also increased after contracting 1.4% y/y in December. Seasonality plays a…
In his latest Thoughts Of The Day, Peter Berezin discusses the different moving parts of the global economy today and the potential impact of Trump's policies.
China’s January consumer prices rebounded to 0.5% y/y, and producer price deflation was unchanged at -2.3%. China’s first quarter data tends to be distorted by the Chinese New Year, as its variable dates shift consumption peaks…