According to BCA Research’s China Investment Strategy service, a very substantial PSL financing scheme for housing, a large LG and LGFV debt swap, and considerable fiscal transfers to households—or a combination…
Our Emerging Markets Strategy team posits that the South African economy is heading into a recession later this year. The South African government refrained from announcing any stimulus measures in its recent budget proposals.…
Democrats are still slightly favored for reelection as the incumbent party is presiding over a growing economy. However, Biden’s strong showing in the primary election is not lifting his popular approval yet, and that is a worrying…
In the past couple of years, Mexico has been among the favorite markets for investors within the EM space. As our Emerging Markets Strategy team argued in a recent report, the cyclical and structural outlook for Mexican risk…
A market-cap weighted index of CE3 economies (Poland, Hungary and Czechia) returned a whopping 64% in common currency terms since its 2022 low. Polish and Hungarian equities led the rally, advancing by a respective 86% and 78% in…
China’s NBS PMI release indicates that the Chinese growth is stabilizing at a low level. The composite PMI came in at 50.9 – unchanged from January. The stabilization was led by the non-manufacturing sector though…
Energy security is a focus of many governments, especially since the onset of the Russia-Ukraine conflict. One producer that is benefitting from diversification away from Russian oil and gas is Norway. This is buffeting the trade…
China’s credit data update for January delivered a mixed signal on Friday. The CNY 6.50 trillion increase in aggregate financing beat expectations of CNY 5.60 trillion and marked a significant acceleration from CNY 1.94…