Rory Green-TS Lombard

Bloomberg Markets: The Close (09/24/2021)

Steve Blitz TS Lombard

BBC World Business Report

Sblitz

TS Lombard's Blitz on Fed Policy Outlook

Shumita Deveshwar

Lombard's Deveshwar on India's Vaccination Programme, Economy

Steven Blitz-1

What’s in the $1.9 trillion American Rescue Plan?

Bo Zhuang-2

China’s domestic consumption has not bounced back to pre-Covid levels: TS Lombard

Charles Dumas

The Cost of Free Money

“The Fed’s problem is that current price hikes from shortages of goods and labor will pass, but the coming increase in wages will not”
Steven Blitz, Chief US Economist, quote in the New York Times
"The Fed’s first hike likely will come as soon as March, the same month tapering likely will end."
Steven Blitz, Chief US Economist , quote in CNBC
“We’re back to where we were pre-pandemic. This only serves to underscore how far behind the Federal Reserve is in terms of normalising policy rates.”
Steven Blitz, Chief US Economist, quote in the Financial Times
“They’re right that this is transitory. They’re going to get a respite. But it’s not going to be as big of one as they think.”
Steven Blitz, Chief US Economist , quote in Wall Street Journal
“Cases are down . . . and because last year’s Diwali was quite subdued, everyone was out and about this time around. This is a short-term boost. I don’t know whether it’s going to turn into a long-term recovery.”
Shumita Deveshwar, Senior Director, quote in the Financial Times
"The FX swap market may no longer even be best measure of dollar funding stress as dollar liquidity ebbs from here."
Shweta Singh, Global Macro and Europe Economics, quote in Reuters
“The green transition is huge for emerging markets. There are opportunities in the manufacturing EM economies that will try to get in on the demand for electric vehicles and solar panels etc, as well as developments in other sustainable fuels such as green hydrogen.”
Jon Harrison, MD, EM Macro Strategy, quote in Bloomberg
“Evergrande has definitely pushed it further than most, but there are a lot of developers out there that share the same model. It’s been a massive boom and they’ve overtraded in order to get bigger.”
Andrew Lawrence, Asia Property Analyst, quote in Wall Street Journal
"It's believed that the ECB is discussing tapering their PEPP purchases. If it is, then investors will look for signs that they are going to compensate by making purchases through other schemes"
Andrea Cicione, Head of Research, quote in Reuters
“There is no more transitory price than transportation because the capacity can expand and shrink”
Steven Blitz, Chief U.S. Economist, quote in Wall Street Journal
“Consumers will substitute ‘stuff’ for ‘experiences’, easing the pressures on global industry”
Dario Perkins, Managing Director, Global Macro, quote in Bloomberg
“Disengagement has been very much at the margins. The status quo is still massive investment in China”
Rory Green, Head of China and Asia Research, quote in Barron's
"Residential real estate makes up the largest asset of the Chinese middle class, and a 15% to 20% drop in prices could trigger social unrest"
Larry Brainard, Chairman, Emerging Markets Panel, quote in Barron's
"We are now up to a split in the FOMC on hikes next year (Last November I forecast the first hike in Dec 2022) with 3 voting for two hikes. Everyone is on board, save one, for hikes in 2023, with 10 looking for the year-end funds rate to be 0.875% or higher"
Steven Blitz, Chief US Economist, quote in Bloomberg
"The imminent demise of China's leading property company raises questions about risks of contagion and possible spillover effects to the economy and the global recovery"
Jon Harrison, Managing Director, EM Macro Strategy, quote in Reuters
“For now, data remain consistent with a decent pace of recovery”
Davide Oneglia, Senior Economist, quote in Financial Times
"Crackdown on Didi opens a new front in China's tech assertiveness: this is now a question of sovereignty"
Rory Green, Head of China and Asia Research, quote in Reuters
“Earnings are coming out really strong and that is giving equity investors some comfort”
Andrea Cicione, Head of Strategy, quote in Reuters
"Action on climate change is often criticized as moving too slowly. However, with governments increasing spending to aid their post-Covid economies, they may start catching up"
Charles Dumas, Chief Economist, quote in CNBC
“As presales fall, the developer is forced to borrow more, banks ask for more pledged assets and higher guarantees, suppliers ask for earlier payment and presales get worse as the developer cuts prices and end users don’t trust the company to complete the development”
Andrew Lawrence, Asia Property Analyst, quote in the Financial Times