In today’s briefing:
- Real Estate Watch – Which Markets Will Be Worst off in 2023?
- U.S Debt Ceiling Countdown – 6 Charts on How the Debt Ceiling Affects Markets
- CX Daily: Lithium Tops Out
- China’s Emergence From ‘Zero Covid’ May Spur Global Growth
Real Estate Watch – Which Markets Will Be Worst off in 2023?
- We are beginning to see prices cooling but we expect no relief near term. In fact, our models predict a 15-20% decline (YoY) at the end of year 2023.
- Nonfarm employment is evidently STARTING to give, and given its correlation to home prices, our conviction of further downside in residential is further strengthened.
- Pending home sales are down some 41% since ATH, and that reluctance to buy is bound to hit owners HARD.
U.S Debt Ceiling Countdown – 6 Charts on How the Debt Ceiling Affects Markets
- The debt ceiling is now in force in the US
- The US Treasury will mainly issue short-term bills in the coming weeks
- USD Liquidity will be added in SIZE from the US Treasury in February and March
CX Daily: Lithium Tops Out
Lithium / In Depth: Lithium tops out.
Davos / ‘China’s door to the outside will only open wider,’ Vice Premier Liu He says.
FDI / Charts of the Day: China’s FDI growth slowed but ‘steady’ in 2022.
China’s Emergence From ‘Zero Covid’ May Spur Global Growth
- China’s emergence from three years of strict “zero-Covid” pandemic controls spurred optimism for the country’s economic outlook following disappointing growth in 2022.
- China’s reopening and exit from the zero-Covid policy is the “most positive catalyst” for global markets this year, said Nicolas Aguzin, CEO of Hong Kong Exchanges and Clearing Ltd
- China reported Tuesday that its economy expanded 3% in 2022, missing the official target by 2.5 percentage points, as strict controls under the now-abandoned zero-Covid strategy slowed economic activity for months.
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