Despite the country’s apparent export prowess and its persistent trade surpluses over the last twenty years, we estimate that the Chinese corporate sector is currently running a financial deficit (i.e. the financing gap between in current expenses plus CAPEX and its current revenues) of between US$1.5 and US$2 trillion per annum.
Our team of our Portfolio Managers in London, one of whom hails from France, reviews the prospects and ramifications of this weekend's French election.
Our Tokyo Fixed Income team explains its view on the Japanese labor market and its effect on consumer inflation and Bank of Japan policy.
“We all have heard of the term 'interest rate repression' for how central banks have kept rates at ultra-low levels, but this has only been successfully maintained due to what I call 'inflation repression.'”
John Vail, Chief Global Strategist for Nikko Asset Management, contributes a regular column to Forbes.com
During the 2016 December quarter, we witnessed the value style stage a partial recovery after having underperformed for at least two years or so. Is this as good as it gets? Or will value continue to outperform after its initial recovery, after having being in the wilderness for some time?
China started 2017 with real momentum, following the property driven debt-fuelled stimulus of last year, and the blue skies a result of Government directives to curb pollution during March’s Central Government meetings. However, with an expectation of lower steel intensity sectors driving growth this year, what will this mean for Australia’s resource sector?
As commodity prices have risen, the Australian economy is set to benefit from these continuing gains.
We joined the ‘financial world’ in 1987 when inflation had in theory at least been conquered and the Asian Tigers had emerged to become significant parts of the global trading system.
Is Volatility too low and what re-pricing could mean for various asset markets
The Global Investment Committee remains optimistic about global economy and equity markets despite their recent strong equity rallies and increased political risks.