APAC Investment Strategy, Animal Spirits Report

Paul M. Kitney, PhD

Quiddity Advisors

Pan-Asia Catalysts/Events

Thematic (Sector/Industry)

<h2>Executive Summary</h2><ol>
<li>OPEC production cut plan supports our macro thesis of an oil-led, inflation expectations uplift.</li>
<li>Our original WTI peak base effect was +20 percent YOY. Now based on end-September oil it is +40 percent.</li>
<li>Our bullish case for EM is in large part based on improved pricing power in energy and material sectors.</li>
<li>OPEC action assists supply rebalance and steepens the path for inflation expectations and Fed action.</li>
<li>Strong oil supports our yield-based bullish view on banks and insurers.</li>
</ol><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/013/995/original/animal_spirits3.png?1475197603" class="editor-image img-responsive" data-smartkarma-image-id="13995"></figure><h2>Oil</h2>…

Executive Summary
OPEC production cut plan supports our macro thesis of an oil-led, inflation expectations uplift.
Our original WTI peak base effect was +20 percent YOY. Now based on end-September oil it is +40 percent.
Our bullish case for EM is in large part based on improved pricing power in energy and material sectors.
OPEC action assists supply rebalance and steepens the path for inflation expectations and Fed action.
Strong oil supports our yield-based bullish view on banks and insurers.
Oil…

ANIMAL SPIRITS Update: OPEC Fuels Base Effect - Oil, Inflation & The Fed, Yields, Financials and EM

Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

Trends in Technology, Demographics, and Borrowing Will Set the Course of Rates<ul><li class="p1">We hypothesise that three main factors will determine the future course of interest rates.</li><li class="p1">First, the "new economy" characterised by globalisation and technological advancement will have long-lasting effects on the balance of savings and investment and will continue to exert an effect on the demand for capital and labor for years to come.</li><li class="p1">Second, demographic changes—primarily an aging and longer-lived global population—will reduce the savings glut produced by rapid growth of the working-age population in recent decades.</li><li class="p1">Finally, the state of the credit cycle will weigh on consumer and corporate behaviour, as well.</li></ul>Analysts: Jim Sinegal &amp; Eric Compton

Trends in Technology, Demographics, and Borrowing Will Set the Course of RatesWe hypothesise that three main factors will determine the future course of interest rates.First, the "new economy" characterised by globalisation and technological advancement will have long-lasting effects on the balance of savings and investment and will continue to exert an effect on the demand for capital and labor for years to come.Second, demographic changes—primarily an aging and longer-lived global population—will reduce the savings glut produced by rapid growth of the working-age population in recent decades.Finally, the state of the credit cycle will weigh on consumer and corporate behaviour, as well.Analysts: Jim Sinegal &amp; Eric Compton

Financial Services Observer: Solving the Interest Rate Equation

Bespoke Research on China and neighbouring regions, Bixmoor

Bixmoor

Bespoke Research on China and neighbouring regions

Bixmoor specialises in providing bespoke research to business, governments and the financial community on China and neighbouring regions. We seek to build long-term relationships with our clients, based on our expertise, our reliability and our determination to find the right solution.

Suggestions that London's leading role as a hub for forex trading is under threat are much exaggerated. London, and to a lesser extent New York, continue to dominate, despite a small increase in the role of Hong Kong.

Suggestions that London's leading role as a hub for forex trading is under threat are much exaggerated. London, and to a lesser extent New York, continue to dominate, despite a small increase in the role of Hong Kong.

London Continues to Dominate Forex Trading

Chairman, sgtradex

Tan Chin-Hwee

Chairman

Traditional finance companies' competitive advantage operates like moats protecting mediaeval castles. Fintech companies must cross the moats of trust and regulation to break into the mainstream.It started with a question which seemed simple enough when I first started investing in technology despite my training in years as a value investor: How do you invest in a fintech (financial technology) start-up with the potential to revolutionise finance, but which has not gained wide traction or turned…

Traditional finance companies' competitive advantage operates like moats protecting mediaeval castles. Fintech companies must cross the moats of trust and regulation to break into the mainstream.It started with a question which seemed simple enough when I first started investing in technology despite my training in years as a value investor: How do you invest in a fintech (financial technology) start-up with the potential to revolutionise finance, but which has not gained wide traction or turned…

The Moats that Fintech Companies Must Cross

Founder-CEO & Chief Analyst, Real Estate Foresight

Robert Ciemniak

Founder-CEO & Chief Analyst

Real Estate Foresight

Since 2012, REF has been helping investors with market research, project due diligence, and strategy development. This has ranged from detailed assessments and estimates on distressed developers' project portfolios to market due diligence on specific projects to macro-level questions linked to demand for commodities. The unique combination of the housing markets and developer data from data partner China Index Academy in Beijing, primary research, and technology-powered alternative data collection from public sources result in a valuable content set used in REF analytics and reports.

Predictive Analytics for China Property

We have updated our currency impact tables 'post-Brexit' for USD, EUR, JPY, AUD, GBP and CNY. We make a simple assumption that a property investor uses his/her domestic 'investor' currency to buy assets in 'investment' currency at a spot rate on a given start date and then repatriates that back into investor currency on a given end date. Change in the value at end date vs start date in investor currency represents the approximate currency impact, not adjusted for any transaction or other costs…

We have updated our currency impact tables 'post-Brexit' for USD, EUR, JPY, AUD, GBP and CNY. We make a simple assumption that a property investor uses his/her domestic 'investor' currency to buy assets in 'investment' currency at a spot rate on a given start date and then repatriates that back into investor currency on a given end date. Change in the value at end date vs start date in investor currency represents the approximate currency impact, not adjusted for any transaction or other costs…

60 Days After Brexit - Currency Impact Tables For International Property Investors

United Kingdom

NatWest Group is a UK-focused banking organization operating in retail, commercial, and private banking markets. It offers a comprehensive range of products and services, including current accounts, mortgages, personal unsecured lending, and personal deposits. The group is headquartered in Edinburgh, Scotland, and was founded in 1968.

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NatWest Group (NWG LN)

ANIMAL SPIRITS Update: OPEC Fuels Base Effect - Oil, Inflation & The Fed, Yields, Financials and EM

Executive Summary OPEC production cut plan supports our macro thesis of an oil-led, inflation expectations uplift. Our original WTI peak base...

Paul M. Kitney, PhD

Financial Services Observer: Solving the Interest Rate Equation

Trends in Technology, Demographics, and Borrowing Will Set the Course of Rates We hypothesise that three main factors will determine the future...

Morningstar, Inc.

London Continues to Dominate Forex Trading

Suggestions that London's leading role as a hub for forex trading is under threat are much exaggerated. London, and to a lesser extent New York,...

Bixmoor

The Moats that Fintech Companies Must Cross

Traditional finance companies' competitive advantage operates like moats protecting mediaeval castles. Fintech companies must cross the moats of...

Tan Chin-Hwee

60 Days After Brexit - Currency Impact Tables For International Property Investors

We have updated our currency impact tables 'post-Brexit' for USD, EUR, JPY, AUD, GBP and CNY. We make a simple assumption that a property investor...

Robert Ciemniak

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