海外研报

Emerging Markets Asia: June 2024

Asia ex-China’s net portfolio inflows rose to USD10.9bn in June 2024 from USD7.5bn in May. Lower inflation numbers in the US kept the hope of Fed

2Q Preview: Screening for Dislocations (SLB), Momentum (AR, CCJ), and Catalysts (WFRD)

Heading into 2Q24 and 2H24, we remain focused on stocking picking versusthematic exposures similar to so far this year, and see three key buckets of

Tracking Trucker Employment; TL Drivers Exit But More May Be Needed

Long haul trucking lost 1,200 drivers in May, below their pre-COVID seasonalsequential increase of ~2,600 drivers (we note that long haul data lags total

Bank of Korea: preparing for a Q4 pivot

The Bank of Korea’s (BoK) decision to keep its policy rate unchanged at 3.50% was unanimous, but its forward guidance has turned incrementally more dovish as anticipated.

Investigating scope for Generative AI to drive upside for

Following the excitement around ChatGPT's launch and the proliferation of competitor Large Language Model (LLM)solutions, the commencement of what is likely to be large spend on infrastructure buildout (with tech giants and beyond

USA | Equity Strategy

We updated our Manager Holdings for Long Only investors, and it hadimplications for a number of Hedge Fund portfolios. We updated Uber Crowded,

Europe Non Research Other

All about the US inflation print this alernoon and i willtake my lead from there. The market feels as though it wanls to embrace alower USD and if the print is sot (rounding will also be important today)

European Equity Strategy

It's time for stock picking again: Europe's stock level dispersion and equities market breadth are just starting to recover from lows ( Exhibit 2 and Exhibit 6 ) amid recent investor focus on elections,

China: Not Quite the QE You Expect

The People’s Bank of China (PBoC) has been trying to cap a record-breaking rally in the bond market. Unfavourable rate differentials add to yuan

American Themes

The market’s perception of Brazil’s fiscal outlook has worsened in recent months after the government proposed a diluted fiscal consolidation plan for 2025-2028 in its draft Budgetary Directives Law in mid-April.