In today’s briefing:
- UK: Price War Dents Spring Inflation
- Atkins to Accelerate the Delisting of Chinese Stocks From the US Stock Exchanges in 2025/2026?
- EA Disinflation Confirmed For ECB Doves
- CX Daily: Fatal Crash Sours Xiaomi’s EV Success
- Private Firms Step In As Indonesia Grapples With EUDR Compliance
- Walker’s Weekly: Dr. Jim’s Summary of Key Global Macro Developments – 17 April 2025
UK: Price War Dents Spring Inflation
- A supermarket price war hit food prices, slowing UK CPI inflation below the headline consensus again. Upside news in clothing was offset by downside in game prices.
- Repeating 2008’s experience would drive a game price rebound, but the food effect is more likely to persist. The median inflationary impulse should also rebound soon.
- Unit wage costs remain inconsistent with the target, while energy and water utility bills will drive a massive jump in April. We still forecast a final 25bp BoE rate cut in May.
Atkins to Accelerate the Delisting of Chinese Stocks From the US Stock Exchanges in 2025/2026?
- Paul Atkins, the new head of U.S. SEC could accelerate the delisting of Chinese stocks from the U.S. stock exchanges.
- There are about 280 companies from mainland China that are listed in the U.S. with a combined market cap of about $880 billion.
- There could be two major reasons to accelerate this delisting (require Chinese companies to abide by US GAAP accounting and fully delist Chinese companies with ties to Chinese military).
EA Disinflation Confirmed For ECB Doves
- An unrevised final HICP print confirmed the disinflationary space driving the ECB to cut again in April, despite growing desire to slow easing before it becomes stimulative.
- The median inflation impulse remains at, or slightly below, the target. However, other statistical measures are stickier and labour costs are fundamentally growing too fast.
- EURUSD appreciation compounds disinflationary energy price pressures to trigger another likely slowing in April that might dovishly surprise the consensus again.
CX Daily: Fatal Crash Sours Xiaomi’s EV Success
- Xiaomi /In Depth: Fatal crash sours Xiaomi’s EV success
- Wearables /: Chinese wearable tech firms explore overseas production as U.S. tariffs soar
- Tariff bullying: Senior Communist Party official Xia Baolong got fired up during a national security speech in Hong Kong on Tuesday, condemning the U.S.’ 145% tariff on imports from the free port city as “outrageous bullying and utterly shameless.
Private Firms Step In As Indonesia Grapples With EUDR Compliance
- Only 10,000 ha of 3.2 million ha smallholder plantations get STDB
- KoltiSkills trains around 6,000 smallholders in Indonesia
- Olam Agri rolls out SNR in Lampang to empower smallholders
Walker’s Weekly: Dr. Jim’s Summary of Key Global Macro Developments – 17 April 2025
Japan faces GDP downgrades and a strong yen, but labour shortages support domestic resilience.
U.S. reindustrialization plans clash with tight labour markets and inflation risks.
Global uncertainty persists amid U.S. tariffs, limited rate cuts, and diverging economic trajectories in Asia.
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