Co-founder & Managing Director, Marketnomix 

Rajan Govil

Co-founder & Managing Director

Marketnomix 

Macroeconomics

China’s data releases in recent days have continued to broadly reflect the ongoing slowdown in the economy. While industrial production remained steady in May 2016, retail sales as well as fixed asset investment continued to slow.  Money supply and outstanding loans also slowed in May.Industrial production in China remained steady in May 2016 rising 6.0% y-o-y, the same as in April, and compared to an increase of 6.8% y-o-y for March 2016. On a year-to-date (ytd) y-o-y basis, industrial…

China’s data releases in recent days have continued to broadly reflect the ongoing slowdown in the economy. While industrial production remained steady in May 2016, retail sales as well as fixed asset investment continued to slow.  Money supply and outstanding loans also slowed in May.Industrial production in China remained steady in May 2016 rising 6.0% y-o-y, the same as in April, and compared to an increase of 6.8% y-o-y for March 2016. On a year-to-date (ytd) y-o-y basis, industrial…

China: May Industrial Production Held Steady, Fixed Asset Investment, Loans Growth Slowed

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.

Thematic (Sector/Industry)

China's leadership is aware of the weaknesses in its armed forces, who have been found to be physically unfit, untested, unmotivated  and corrupt. Two recent examples show just how weak the armed forces are at dealing with natural disasters, let alone a situation where national security was at stake.

China's leadership is aware of the weaknesses in its armed forces, who have been found to be physically unfit, untested, unmotivated  and corrupt. Two recent examples show just how weak the armed forces are at dealing with natural disasters, let alone a situation where national security was at stake.

Information Technology Consultant

Ishita Jain

As I noted in my post from a fortnight ago, <a href="https://www.smartkarma.com/insights/blockchain-in-the-financial-services-industry" target="_blank">Blockchain in the Financial Services Industry</a>, central banks are taking greater interest in blockchain and exploring potential applications.A good example is the recent decision by Canada's central bank, The Bank of Canada, to develop an electronic 'version' of the Canadian Dollar ("CAD"). The initiative involves issuing, transferring and settling central bank assets via a token named 'CAD-Coin'. The idea would involve participants pledging cash (CAD)…

As I noted in my post from a fortnight ago, Blockchain in the Financial Services Industry, central banks are taking greater interest in blockchain and exploring potential applications.A good example is the recent decision by Canada's central bank, The Bank of Canada, to develop an electronic 'version' of the Canadian Dollar ("CAD"). The initiative involves issuing, transferring and settling central bank assets via a token named 'CAD-Coin'. The idea would involve participants pledging cash (CAD)…

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

While credit quality is certainly the most important issue facing China’s banks, we can not dismiss core income. This is what will pay for credit costs. But China’s banks are quietly facing a vanishing of their asset yields and therefore, net interest margins (NIM). Where interest rates are not coming down in the quarter, we suspect that much of the worsening in asset yields and NIM is due to loans not paying market rates.These may more affectionately be called NPLs, restructured loans or…

While credit quality is certainly the most important issue facing China’s banks, we can not dismiss core income. This is what will pay for credit costs. But China’s banks are quietly facing a vanishing of their asset yields and therefore, net interest margins (NIM). Where interest rates are not coming down in the quarter, we suspect that much of the worsening in asset yields and NIM is due to loans not paying market rates.These may more affectionately be called NPLs, restructured loans or…

Transport Sector, China and Asia-focused Research

Charles De Trenck

In this part: Continued discussions with Strategists, Investors. ...Noble Scuttlebutt. Pacific Basin disaster. Oil Rebound Picks from last year. Continued  hucksterism at the Fed. .. and a quick update on the future of report presentations.  Are we about to get some revolutionary upgrades for off the rack software? (...and should not the Smartkarma community be ready for upgraded presentation standards?)Noble Scuttlebutt: The first item of note is the great summary of <a href="https://www.smartkarma.com/entities/378" target="_blank" data-smartkarma-citation="entities:378">Noble Group Ltd</a> and its…

In this part: Continued discussions with Strategists, Investors. ...Noble Scuttlebutt. Pacific Basin disaster. Oil Rebound Picks from last year. Continued  hucksterism at the Fed. .. and a quick update on the future of report presentations.  Are we about to get some revolutionary upgrades for off the rack software? (...and should not the Smartkarma community be ready for upgraded presentation standards?)Noble Scuttlebutt: The first item of note is the great summary of Noble Group Ltd and its…

Too Much Going On To Be Bullish (Cont.) Noble, Stock Updates

China

Ping An Insurance (Group) Company of China Limited provides products and services through its five ecosystems in financial services, healthcare, auto services, real estate services and Smart City solutions. The Group's insurance business writes property, casualty, and life insurance products.

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Ping An Insurance Group of (601318 CH)

China: May Industrial Production Held Steady, Fixed Asset Investment, Loans Growth Slowed

China’s data releases in recent days have continued to broadly reflect the ongoing slowdown in the economy. While industrial production remained...

Rajan Govil

The Chinese Military: Fit for Purpose?

China's leadership is aware of the weaknesses in its armed forces, who have been found to be physically unfit, untested, unmotivated and corrupt....

Bixmoor

Blockchain and Central Banks

As I noted in my post from a fortnight ago, Blockchain in the Financial Services Industry, central banks are taking greater interest in blockchain...

Ishita Jain

The Quiet Collapse in China Bank Margins

While credit quality is certainly the most important issue facing China’s banks, we can not dismiss core income. This is what will pay for credit...

Daniel Tabbush

Too Much Going On To Be Bullish (Cont.) Noble, Stock Updates

In this part: Continued discussions with Strategists, Investors. ...Noble Scuttlebutt. Pacific Basin disaster. Oil Rebound Picks from last year....

Charles De Trenck

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