4Q: Industrywide Bad-Debt Ratio Fell, While We Believe Credit Cycle Has Yet to Peak
China’s banking regulator, CBRC, released 2016 operating data for commercial banks, with net profit up 3.5% from 2015. Fourth-quarter earnings...
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Asia Market Strategy: Is There No Stopping This Bull Run?
There was nothing new in Trump's speech last night, but the US stock market surged to new highs (again). Global reflation trade over next few...
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Money Matters: Ready for Lift-Off?
The Personal consumption expenditure numbers in the US were released today. Income grew 0.4% MoM, an annualised rate of nearly 5% but the deflator...
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China Mobile Gaming and SUV Booms Sustained, US Credit Cycle Turning?
A key theme is that China’s next shock for the global economy will be the rising competitiveness of its consumer brands, which can squeeze Western...
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U.S. Asset Managers Still Facing a Difficult Future
Since the presidential election, the prospects of easing regulation and lower corporate taxes have lifted the shares of the U.S.-based asset...
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