Macro - Interlect Analytics

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Macro

A collection of 4 posts

QuickScan: Watching the Long End of the Curve

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QuickScan: Watching the Long End of the Curve

Last week, the PBoC drew attention to long-term bond yields in its monetary policy committee meeting. We think this policy communication, combined with recent macro data and our text-based indicators, suggests that headwinds to the recent bond bull market may be building. Last week, the monetary policy committee of the

QuickScan: External Macro Factors Still Positive

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QuickScan: External Macro Factors Still Positive

In early January, we wrote that we were seeing early signs that the external macro environment could deliver some much-needed support to China’s economy and industrial firms this year (see QuickScan: Can the External Macro Environment Prove to Be a Boon?). We believe this thesis is still intact despite

DeepDive: Signals from the Two Sessions

DeepDive: Signals from the Two Sessions

China’s government work report on Tuesday signalled robust support for the new economy going forward, aligning with the messaging coming out of the Central Economic Work Conference late last year. Policy stimulus signals, while still supportive, remained moderate overall, consistent with our expectations going into the two sessions. Policymakers

QuickScan: Can the External Macro Environment Prove to Be a Boon?

QuickScan: Can the External Macro Environment Prove to Be a Boon?

As we enter the new year, China’s domestic conditions continue to appear lacklustre. However, there are early indications of positivity in the external macro environment. Should these signals come to fruition, they could offer some much-needed support to the economy and industrials in the year ahead. The USD has