Hong Kong’s US dollar overhang
Demand for US dollar deposits may be starting to wane, contributing to weakness in local rates and upward pressure on the RMB. Continue reading
Chinese money update: losing momentum
Chinese monetary trends suggest a continuation of lacklustre economic growth with negligible inflation. Continue reading
A “monetarist” perspective on UK medium-term inflation prospects
Historical lags and exchange rate appreciation suggest that disinflation has much further to run. Continue reading
Disappointing Eurozone / UK money numbers
Eurozone / UK money growth has weakened despite rate cuts, suggesting that central banks have more work to do. Continue reading
Global industrial momentum still weakening
Trade disruption and a monetary relapse suggest receding prospects for a H2 recovery in global manufacturing PMI new orders. Continue reading
Global money update: renewed weakness
A hopeful signal from an earlier monetary pick-up has fizzled. Continue reading