Good morning Asia and the news is not good:
a) Pres Biden was in Poland and oil went to 121/barrel as fear of escalation higher
b) Shanghai Covid cases spiked & now locking down half of it
c) Markets pricing of hikes globally have gone up, even for the ECB.
😬
#stagflation
a) Pres Biden was in Poland and oil went to 121/barrel as fear of escalation higher
b) Shanghai Covid cases spiked & now locking down half of it
c) Markets pricing of hikes globally have gone up, even for the ECB.
😬
#stagflation
https://twitter.com/ReutersWorld/status/1508182119838797825
This week, PMIs for China and Asia are coming out (don't do prelims so we have to wait end of the month for data) & expect China data to be weaker on zero Covid & spiking Omicron and lockdowns/shutdowns.
Bank of Thailand this week. Don't expect any move even if CPI spikes to 5.3%
Bank of Thailand this week. Don't expect any move even if CPI spikes to 5.3%
Yes, I am still bullish Southeast Asia & Australia, especially commodity exporters, in this environment of #stagflation & even if the Fed goes hawkish. And yes, India is considered a loser of higher oil prices but where it loses in the current account, it'll gain in the capital.
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