In today’s macroeconomic briefing we have a distinctly Asia-Pacific strand running through it. China specialists Rhodium Group explore the costs of China’s defence of its currency, and whether it might be better, and cost effective, to face the reality now. Macro Intelligence Partners 2 delve in the global liquidity implications of an unwind of global investments from Japan’s ‘’yield-hungry’’ financial institutions, and SG provide an update on their tariff tracker work, as effects on the US domestic economy begin to manifest. Down in Australia, Westpac’s senior economists question the Reserve Bank of Australia optimistic view of the economy for next year and beyond. Westpac argue that the RBA should probably stay on hold for the next 2-years. Finally, we revisit the oil markets with Rapidan Energy, who have been well ahead of consensus on their bearish calls and see no reason to take profit yet.
Today, we host our 4th annual Unbundling Uncovered conference (see agenda here) in London where we’ll look at how the research market is changing and adjusting its business model in its first year under the new MIFID2 regulations. If you would like hear what the key takeaways from today’s event are. Please get in touch here