China consumption has been weak. In the most recent Dragon Boat Festival holidays, tourism revenue is still lower than in 2019. A few other consumption indicators have also been soft. The revenge spending does not seem to have happened and the rebalancing of China to a consumption driven economy is making slow progress. What may turn this around?
The Chinese yuan has been falling in view of weak growth and also the outlook of lower interest rates against the US. That clearly has hurt sentiment in the Chinese equity market as well. While Chinese households have a lot of deposit money, it has not benefited the stock market so far.
In this episode, Richard Tang, the China strategist and Head Research Hong Kong and Hao Hong, Partner and Chief Economist of GROW discussed on China consumption and economy, whether money is being reallocated from China to Japan, and the outlook for the RMB going forward.
In this monthly China update, our experts discuss top of mind issues including takeaways from the National People’s Congress, the role of quantitative funds in China and the outlook for the Hong Kong property market.
This episode is presented by Richard Tang, China Strategist and Head Research Hong Kong at Julius Baer with Hong Hao, Partner and Chief Economist at GROW Investment Group.
In this episode, we talk about extended markets and a very data heavy week. Nvidia dethrones Saudi Aramco to be the 3rd largest stock in the world and we do a comparison of today’s Magnificent 7 stocks to the Dotcom.
This episode is presented by Kelly Chia (Deputy Head of Research, Asia).
In this episode, we talk about US and Japanese stock markets that are at all-time highs and what could derail the Artificial Intelligence (AI) party. Mr Warren Buffet’s c.USD168bn dollar cash pile looks to grow with “little deal flow”.
This episode is presented by Kelly Chia (Deputy Head of Research, Asia).
It’s a fact of life that marriages can fail – and for families who want to preserve their wealth from spousal claims, this becomes a contentious issue. In order to keep matters fair for all parties, what should wealth creators do? And if you’re on the cusp of married life, how can you broach the subject with your spouse-to-be? In this episode, tune into the fascinating insights of Martyn Carre, Head of Key Clients and Positioning, Fiduciary Services at Julius Baer.
The emerging market bond market is offering some interesting yields in absolute terms at the moment, and we expect the rate-cutting cycle in developed markets to start later this year, which should support emerging market hard currency debt. In this episode of the Beyond Markets podcast, Helen Freer, Investment Writer, talks to Esteban Polidura, Head of Americas Investment Strategy, and Dario Messi, Fixed Income Strategist, about this segment of the bond market and why we currently like it.
01:15 Why do we like EM hard-currency bonds?
04:27 Why invest in EM hard-currency debt rather than equities?
05:33 What about investing in developed market high-yield debt?
06:49 Do we like any regions in EM in particular?
09:00 Shorter-dated or longer-dated bonds?
09:42 Why we like EM hard-currency bonds and not local currency bonds?
12:30 What risks are involved in such investments?
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We talk about how an external shock could be a welcome reset for stock markets and why Japan's stock market seems to be ignoring it's technical recession.
This episode is presented by Kelly Chia, Deputy Head of Research, Asia.
After multiple years of underperformance, we believe that 2024 could be a comeback year for the Singapore Real Estate Investment Trusts (S-REITs), with the macro tide turning towards expectations of a pause in the hiking cycle and cut in interest rates. The sector’s significant underperformance positions them well for a short term rebound trade – albeit with some volatility, given the data dependent nature of the Fed pivot. We maintain a neutral view over the medium term as high but stable interest rates are likely to continue putting upward pressure on interest costs, slowing distributable income growth. Investors can consider three ways to augment REIT returns in the current climate: 1) Buy the quality laggards, 2) Invest in the inorganic growers, and for more risk tolerant investors: 3) Consider quality Greater China names with turnaround potential as a source of long term upside.
This episode is presented by Jen-Ai Chua, Research Analyst in Singapore
The January core consumer price index rose 0.4% month/month, the highest reading since 1995 excluding the pandemic. The culprit was lodging (hotels and motels), which is unlikely to be repeated. Still the CPI reading may be an excuse for a pull-back in the S&P 500 index of in the high single digits or even low double-digits, even as the market is (we believe) in a primary bull trend. Vice President Kamala Harris said “I am ready to serve. There’s no question about that”. Her popularity is however as low as Biden’s. Former Secretary of State Hillary Clinton said President Joe Biden’s age is a “legitimate” issue. She has an ardent fan base among the 400 superdelegates who will decide the Democrat candidate in August.
In this episode, our experts discuss the topic of sustainable investing, regulatory changes and the latest developments in sustainability initiatives. They debunk the negativity associated with ESG and greenwashing, share the Julius Baer Sustainable Investment Methodology, and elaborate on success cases of companies that have transitioned into more sustainable business models.
Tune into this insightful episode featuring Isak Ahlbom, Head of Sustainable Investment Methodology in Switzerland, along with Laura Wong, Fixed Income Specialist in Singapore, to find out more.
In this monthly China update, we discuss key questions including - Why is market sentiment so poor and is it comparable to the situation in 2015? Will recent measures to support the market make a difference? What is the outlook for the Chinese property market and high-end manufacturing? And finally, have Chinese government bond yields bottomed?
This episode is presented by Richard Tang, China Strategist and Head Research Hong Kong at Julius Baer with Hong Hao, Partner and Chief Economist at GROW Investment Group.
For our listeners who celebrate Lunar New Year, we wish you a happy and prosperous Year of the Dragon!
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