Daily Brief Macro: Smartkarma Webinar | Inflation in Europe and more

In the next webinar, we have Smartkarma Insight Provider Phil Rush who will be giving us the full picture of inflation in Europe and its effects on the European economy. Have your burning questions answered in the live Q&A session that will follow after Phil’s presentation. 

The webinar will be hosted on Wednesday, 23 November 2022, 17:00 SGT/HKT.

Philip Rush is the Founder and Chief Economist of Heteronomics. Until launching in November 2016, he was Nomura’s Senior European Economist and was the Chief UK Economist there since 2010. Before that, he was UK Economist at Barclays Wealth, where he also developed strategic asset allocation models for their market return portfolios. Philip started his career at Lehman Brothers covering the UK, Scandinavian and Swiss economies. A book on his fundamental framework was published in January 2018 as “Real Market Economics”.

• The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom-up, from across South East Asia. 
• The Past week saw insights on Selamat Sempurna (SMSM IJ),I-Tail (ITC TB), Grab (GRAB US), Sea Ltd (SE US),Bangkok Aviation Fuel Services (BAFS TB), and True Corp. 
• There were also macro insights on the Thai economy, Indonesia’s economy and the Malaysian elections.

• The Rabobank issued a research note last week where they forecasted that prices for agricultural commodities like coffee, feed grains and oilseeds could dip next year as many major economies enter recession, but also stated that they will remain high in historical terms.
• We think the general call is correct, but the timing isn’t. We already see this dip move playing out at the moment.
• Just take a look at coffee, cotton, oil, or copper. We believe this dip in the long-term cyclical bull market will end towards Q2 of 2022 before the rally in many commodity markets resumes again as demand strikes back.

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• Caixin Summit / China’s growth is ‘too slow,’ says top state economist