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Caixin Global

Articles from Caixin Global

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Cross Asset Strategy

<ul><li>In Depth: China’s Developers Try to Modernize After Surge in Subpar Homes China’s housing market is undergoing a reckoning in quality.</li><li>Two-thirds of new homes delivered in 2025 were rated “poor” quality, a sixfold surge in just three years.</li><li>In response, Beijing is pushing a nationwide campaign for “good houses” — raising standards, enforcing mandatory specifications, and pressuring developers to rebuild trust after years of shortcuts.</li></ul>

In Depth: China’s Developers Try to Modernize After Surge in Subpar Homes China’s housing market is undergoing a reckoning in quality.Two-thirds of new homes delivered in 2025 were rated “poor” quality, a sixfold surge in just three years.In response, Beijing is pushing a nationwide campaign for “good houses” — raising standards, enforcing mandatory specifications, and pressuring developers to rebuild trust after years of shortcuts.

CX Daily: China’s Developers Try to Modernize After Surge in Subpar Homes 

Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

<ul>
<li>Whatever economic scenario unfolds in 2026, a long Gold/short Bitcoin investment should outperform. The position is up more than 50% since October.</li>
<li>As one of the most leveraged and speculative parts of global asset markets, Bitcoin will struggle as the Fed ends its interest rate cuts by the end of 2026.</li>
<li>Gold continues to benefit from the Fed's pro-inflation policies, particularly with the restart of its $40 billion monthly QE program.  Continued currency debasement also supports a contnuation of gold's rise.</li>
</ul>


Whatever economic scenario unfolds in 2026, a long Gold/short Bitcoin investment should outperform. The position is up more than 50% since October.
As one of the most leveraged and speculative parts of global asset markets, Bitcoin will struggle as the Fed ends its interest rate cuts by the end of 2026.
Gold continues to benefit from the Fed's pro-inflation policies, particularly with the restart of its $40 billion monthly QE program.  Continued currency debasement also supports a contnuation of gold's rise.


2026 HIGH CONVICTION IDEA: Long Gold / Short Bitcoin

Decoding the Future of MENA Financial Markets, MENA Market Lab

Denis Collot

Decoding the Future of MENA Financial Markets

MENA Market Lab

Decoding the future of Middle East and North Africa Financial markets

<ul>
<li>
Inflation lower. Trade deficit improving.       
</li>
<li>
Next phase for privatisation pushed to Q1 2026. Markets all-in on Egypt.
</li>
<li>It seems we could be in the last stretch of negotiations for a ceasefire in Ukraine.</li>
</ul>



Inflation lower. Trade deficit improving.       


Next phase for privatisation pushed to Q1 2026. Markets all-in on Egypt.

It seems we could be in the last stretch of negotiations for a ceasefire in Ukraine.


<ul><li>Trading by Algorithm: Who is Responsible When AI Calls the Shots?                                         </li><li>It was a battle unlike anything Wall Street had ever seen.                  </li><li>No hedge fund managers.                </li></ul>

Trading by Algorithm: Who is Responsible When AI Calls the Shots?                                         It was a battle unlike anything Wall Street had ever seen.                  No hedge fund managers.                

CX Daily: Trading by Algorithm: Who is Responsible When AI Calls the Shots? 

Chief Executive Officer, Emmer Capital Partners Limited

Manishi Raychaudhuri

Chief Executive Officer

Emmer Capital Partners Limited

Emmer Capital Partners is an Asia Pacific focused financial advisory firm engaging in strategic financial asset allocation advice, bespoke thematic research and advising early-stage companies and connecting them to investors. Emmer Capital provides macro-economic and multi-asset investment strategy inputs to institutions, family offices, private wealth managers, private equity, and corporate boards directly and through independent research platforms. Emmer Capital also advises a wide range of startup companies on fund raising and business strategy. Emmer Capital's active engagement with the print and electronic media reaches a broad spectrum of investors across the globe.

<ul>
<li>Three 2026 themes: (i) Continued AI spending boom, moats and monopolies to thrive, (ii) Recently commenced commodity super-cycle, especially in copper, (iii) Continued defense spending boom amid accelerating geopolitical tensions.</li>
<li>These themes are well-discussed over the past year, but recent concerns about their longevity (especially AI spending) have derated the beneficiary stocks. We think it's time to re-focus on them.</li>
<li>Our top picks: TSMC (the monopoly AI enabler), Zijin Mining (the gold and copper giant, benefitting from two super cycles) and Hanwha Aerospace (the biggest beneficiary of defense spending boom).</li>
</ul>


Three 2026 themes: (i) Continued AI spending boom, moats and monopolies to thrive, (ii) Recently commenced commodity super-cycle, especially in copper, (iii) Continued defense spending boom amid accelerating geopolitical tensions.
These themes are well-discussed over the past year, but recent concerns about their longevity (especially AI spending) have derated the beneficiary stocks. We think it's time to re-focus on them.
Our top picks: TSMC (the monopoly AI enabler), Zijin Mining (the gold and copper giant, benefitting from two super cycles) and Hanwha Aerospace (the biggest beneficiary of defense spending boom).


2026 High Conviction: Three Themes, Three Top Picks

Cross Asset Strategy
Cross Asset Strategy Insights

CX Daily: China’s Developers Try to Modernize After Surge in Subpar Homes

In Depth: China’s Developers Try to Modernize After Surge in Subpar Homes China’s housing market is undergoing a reckoning in...

Caixin Global

2026 HIGH CONVICTION IDEA: Long Gold / Short Bitcoin

Whatever economic scenario unfolds in 2026, a long Gold/short Bitcoin investment should outperform. The position is up more than 50% since October.

David Mudd

Egypt (December 16th 2025)

Inflation lower. Trade deficit improving. Next phase for privatisation pushed to Q1 2026. Markets all-in on Egypt. It seems we could be in the...

MENA Market Lab

CX Daily: Trading by Algorithm: Who is Responsible When AI Calls the Shots?

Trading by Algorithm: Who is Responsible When AI Calls the Shots? It was a battle unlike anything Wall Street had ever...

Caixin Global

2026 High Conviction: Three Themes, Three Top Picks

2026 themes: AI spending boom continues, commodity super-cycle, defense spending surge. Our top picks are the market leaders in these themes:...

Manishi Raychaudhuri

CX Daily: China’s Developers Try to Modernize After Surge in Subpar Homes

In Depth: China’s Developers Try to Modernize After Surge in Subpar Homes China’s housing market is undergoing a reckoning in...

Caixin Global

2026 HIGH CONVICTION IDEA: Long Gold / Short Bitcoin

Whatever economic scenario unfolds in 2026, a long Gold/short Bitcoin investment should outperform. The position is up more than 50% since October.

David Mudd

Egypt (December 16th 2025)

Inflation lower. Trade deficit improving. Next phase for privatisation pushed to Q1 2026. Markets all-in on Egypt. It seems we could be in the...

MENA Market Lab

CX Daily: Trading by Algorithm: Who is Responsible When AI Calls the Shots?

Trading by Algorithm: Who is Responsible When AI Calls the Shots? It was a battle unlike anything Wall Street had ever...

Caixin Global

2026 High Conviction: Three Themes, Three Top Picks

​2026 themes: AI spending boom continues, commodity super-cycle, defense spending surge. Our top picks are the market leaders in these themes:...

Manishi Raychaudhuri

2026 themes: AI spending boom continues, commodity super-cycle, defense spending surge. Our top picks are the market leaders in these themes:...