海外研报

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Asia Macro Weekly

Balancing an accommodative Fed and a complex US election across emerging markets

Macro focus:Over the last seven w eeks, the outlook for the Fed has become more supportive w ith favourable inflation and labour prints that has led to the pricing of

US growth pick-up but dimmer Europe outlook

US election: Harris steps in, but Trump still more likelyWhile the prediction market-implied odds of Democrats winning the White House

CP monitor: higher financials supply

Supply: notable pickup in foreign financials CP outstanding has increased $35bn since the end of June, bringing the total to $1.27tn.