海外研报

Global Asset Allocation Views

The data reaffirm our base case view of moderating growth and cooling inflation.• This environment supports a risk-on tilt in portfolios, with overweights to equity and credit.

Global Fixed Income Views

A 70% probability of Sub Trend Growth, and a soft landing, remain our base case. While smaller businesses and lower income households struggle with

Mizuho China Weekly Outlook

China’s Q2 GDP growth disappointed, rising 4.7% YoY, compared to market expectations of 5.0% and Q1’s 5.3%. This slowdown was primarily driven by final consumption, which contributed 3.0ppt to headline

China: Uncertain economic environment overshadows the party plenum

China’s GDP growth slowed down to 4.7% in Q2. Growth relies much onfixed asset investment in manufacturing and infrastructure while consumerconfidence remains low and the downturn in the housing market continues.

Weekly Warm-up: What Does Falling Inflation Mean for Stocks?

What Does Falling Inflation Mean for Stocks? As we have discussed over the last several weeks, the market's focus internally has shifted from

Asia-Pacific Portfolio Strategy: Asian equity market daily update

The MXAPJ Index was flat today. Malaysia and Australia markets outperformed,while Hong Kong and China markets underperformed. Within MXAPJ sectors,

Narrow breadth could persist

Narrow market breadth continuing to impact portfoliosGlobally, a few large stocks are driving equity market returns, which makes it difficult for

Emerging Market Focus

The economic growth slowdown in Q2 turned out to be more significant than expected, with a notable deceleration in retail sales and continued

China: weaker consumption looms over GDP recovery

The weak Q2 GDP (4.7% y/y) suggests the official target of 5% for 2024 is not a done deal. As H2 2023 constituted 53% of the annual GDP in 2023,

USD hit by more “good data”

FX View: The USD’s recent weakening trend has continued over the past week. Fed Chair Powell was clear this week in his semi-annual testimony on monetary