Jackson Hole, Asian Growth, China Thematic, SingTel (ST SP), Wilmar (WIL SP)
Alētheia Capital
INVESTMENTS - IDEAS - ADVISORY - FINTECH Asia's #1 Global Independent Investment Advisory Firm
The Five at Five newsletter is published every Friday and pulls together 5 showcase notes produced over the last 7 days from across the Alētheia Capital platform.
It's Friday. It's five o'clock. It's #FiveAtFive!
Ahead of today's #JacksonHole symposium global strategist Jonathan Wilmot shares some thoughts:
"We believe that we are shifting into a structurally higher real yield regime (less global savings, more investment) but it’s the debate about r* (the equilibrium policy rate consistent with a 2% inflation target) that will probably catch more market attention."
Watch this space!
There have been a lot of negative headlines about July's Asian #trade figures.
Chief #economist Dr. Jim Walker takes a step back to give the region's numbers a closer look.
"...year-on-year declines from the peak trade year in history (2022) can be somewhat misleading."
Next up a(nother) punchy note from Keith Woolcock (technology thematic strategist).
"Economists, strategists and pundits will always try and call the bottom of the Chinese market.
Each time the government cuts interest rates,?or promises to become more business friendly, they will waste no time telling you that now it's time to re-enter China.
领英推荐
What I have attempted to do in this note is to explain that the country’s problems are so deep rooted they are unlikely to change without radical measures."
Single stocks to close off the week..
Singtel (ST SP,) held its Investor Day on Thursday.
Although there was some pressure in the core, underlying net profit growth remains strong according to Chris Hoare (APAC Telecom).
Chris refreshes his outlook and looks at all the constituent parts.
We remain firmly on the back foot with regards to Wilmar International (WIL SP).
Nirgunan Tiruchelvam highlights management's recent share purchases but warns (again) that balance sheet issues remain paramount.
That's it for this week.
As ever, if you would like to follow up on any or all of the above, please get in touch!
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