Biden steps down. The PBOC cuts 7-day repo and LPR by 10bps, and adjusts CNY reference rate 20bps weaker. It’s moving ahead of the Fed. The PBOC has been delaying the rate cut, despite mounting deflationary pressure. It’s waiting for the Fed to make the move first. Its focus on

North Korean Olympians shaking hands with South Koreans. Very Gingerly.

Aug Dialogue with Julius Baer: how the market reflects the Plenum; epic rotation short-term market outlook; China’s consumer stimulus & short/long-term effects; outlook for Chinese interest rates & stocks; US tech embargo on China (recorded on 20240803) podcasts.apple.com/us/podcast/bey…

八月与瑞士宝盛的月度对话（音频): 我们讨论了市场对于三中全会的反应；全球市场历史性轮动及短期市场风险；消费刺激及其短期和长期的效果；利率长期展望；美国对华的科技禁运（8/3 星期五录制，英文版并非中文版的简单直译） podcasts.apple.com/us/podcast/%E5…

China’s headline CPI beat, but mostly because of food supply issues and weather. As such, it’s not yet a sign of strengthening domestic demand. That said, recent import growth has surprised strongly on the upside. Recent thirty-point polices on consumption are a sign that to

A splendid autumn’s day in Beijing. A corner tower at the Forbidden City overlooking the city moat. It’s a picture perfect spot for internet influencers. But the rout in China’s treasury bond market broke this serenity. The PBOC has been warning of a bond bubble as long yields

China commemorates Deng Xiaoping’s birthday with significant and public efforts. There have been state ceremonies held by top leaders at the Great Hall of the People, with high-profile state media coverage. And the public has been reposting and sharing the coverages and

China Robot Expo. Interestingly, they all have a human face but a robotic body. And they are all female …

China needs to do substantially more to boost confidence. While the challenges are secular, & as such cyclical stimulus may not be the cure, it still beats sitting on our hands. And China is probably the most contrarian play right now. bloomberg.com/news/videos/20…

In this episode of “Tiger Money”, we discuss how an innate cultural peculiarity of the Chinese economy has been misunderstood, and how it gives rise to the global structural problem, as well as the pervasive risk aversion in the Chinese market. Where the consensus get China

One of the most well-known analysts on China, Hao HONG 洪灝, CFA of GROW Investment speaks to Bloomberg’s Tiger Money Podcast team David Ingles & Rebecca Sin Full episode here: Apple Podcasts: trib.al/3HAyZH0 Spotify: trib.al/qNkQQhd

Beijing is surveying the housing demand of public servants who are teachers, police, doctors & other occupations working in townships and villages. It’s said that if they haven’t bought their own home, they could buy a property at highly subsidized prices in the near future.

Monthly call with Julius Bär: we discuss re-mortgage and the possibility to cut mortgage rate for existing loans, and the effect on banks and property developers, as well as the overall market. Why Chinese treasury yield is going to zero? And the historic surge of gold.