Singapore Responds to Recession with a Massive Fiscal & Mild Monetary Stimulus
While a recession is inevitable in 1H 2020, the massive "Resilience Package" worth 11% of GDP will kick-start a strong economic recovery in 2H...
548 Views
China's Export Disruption Is Causing Re-Shoring of Exports to TW, VN, PH, ID
China's industrial output declined 13.5% YoY in January-February 2020, retail sales declined by 20.5% YoY, and fixed asset investment (FAI)...
460 Views
Hong Kong - Fallout
We are underweight Hong Kong in our relative regional portfolio this year. The 2019 political crisis was exacting a heavy price on the economy and...
519 Views
Singapore Stuck in a Low-Growth Equilibrium in the Absence of Monetary and Fiscal Stimulus
Singapore is caught in a low-growth equilibrium, but this year's pain was eased by increasing net employment by 1.5% YoY in 1H 2019 and 1.7% YoY in...
565 Views
Singapore - Growing Headwinds
Advance 3Q GDP estimates disappointed on the downside. On the upside the Monetary Authority of Singapore (MAS) did deliver, reducing, in line with...
474 Views