We discuss some reasons why we believe the luxury goods sector is, and will continue to be, important for investors, despite impacts of COVID-19 or the U.S. election.
In this article, we elaborate on the exogenous shock of COVID-19, how this has been the fastest bear market correction we’ve entered, and why we believe we’ll encounter a “V-shaped” recovery.
Major market misperceptions and misunderstandings leave Chinese banks seriously undervalued. This blog goes beyond the headlines to seek the truth about the Chinese banks and why we believe the risk/reward is firmly skewed to the upside.
The new year kicked off with a global sell-off when China reported a lower manufacturing PMI. Investors fear that a potentially competitively devaluating yuan could lead to other emerging market countries devaluting their currencies and fear of a Chinese deflationary wave spreading globally.
Looking back to the beginning of Q3 2014, investors had basked in an incredible run in the U.S. markets and were being rewarded locally due to triple-digit oil prices and substantial movement within the energy sector; but what did investors do with those earning?
As part of the National People's Congress (NPC) meetings, it was announced that the Chinese government will allow local governments to swap as much as CNY 1 trillion in high yielding debt into government bonds.
Over the weekend, the People’s Bank of China (PBOC) announced interest rate cuts of 25bps in both benchmark lending and deposit rates. Though the rate cut came as no coincidence with the slowing of China's economy, the surprise was in the timing - it was much sooner than anticipated.