Jiming Huang / Blog
More than a week after the FOMC lifted borrowing costs in the US, financial markets - particularly the equity market - have been treading water as investors struggle to find a new driver. Both the Euro STOXX 50 and S&P 500 are about to close the week flat...
We continue to suspect that markets are underpricing the probability of a BoE policy adjustment. We suspect that as with the Fed, the threshold of removal of emergency measures is significantly lower than standard interest rate hikes...
After the usual March-April contraction, Switzerland’s trade surplus bounced back in May amid a sharp recovery in exports. The trade surplus rose to CHF 3.4 billion in May from CHF 1.96 a month earlier. Exports - in real terms - increased 2.9% m/m while imports eased to 2% m/m...
No one should think that Amazon’s (AMZN) innovative play for Whole Foods is a done deal. News of Amazon’s acquisition of the grocer (WFM) for $13.4bn shocked up the grocery industry and sent big box retailers' stocks tumbling...
Yesterday's collapse of oil to a seven-month low clearly punctuates the demise of OPEC in our view. The thin veil of control that markets provided to this dysfunctional committee is no longer...
A week after the SNB kept rates unchanged, the State Secretariat for Economic Affairs in Bern has issued economic forecasts for Switzerland. The GDP growth in 2018 is expected to reach 1.9% y/y (currently at 0.9%). In the same time, the SECO is forecasting exports to reach 3...
The Brazilian real was unable to recover completely from the panic sell-off that took place after the alleged corruption of President Michel Temer. After spiking USD/BRL to 3.40, the real stabilised at between 3.25-3.30, far above the 3.10 level prior to the revelations...
Banxico is clearly following the Fed rate. The Mexican central bank even changed its agenda in 2015 to carefully follow the Fed meetings and to maintain a rate differential to avoid any capital outflow. Tonight the institution will raise to 7...
Roughly one year after the British referendum, the Brexit negotiations officially start today in Brussels. This will be a long and winding road for the UK government, particularly since the Conservative party lost its majority in the House of Commons...