Pantheon Publications
Below is a list of our Publications for the last 6 months. If you are looking for reports older than 6 months please email info@pantheonmacro.com, or contact your account rep.
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Kelvin Lam (Senior China+ Economist)
China's banks held LPR steady in May; More funding is need to prop up the real estate sector
Kelvin Lam (Senior China+ Economist)China+
In one line: Japan's Q1 GDP shrinks more than expected as domestic demand deteriorates
Kelvin Lam (Senior China+ Economist)China+
- Japan’s preliminary Q1 GDP surprised the market to the downside, with growth turning negative.
- Weak domestic demand, such as business investment and consumption, was the culprit.
- The sluggish growth does not warrant an early rate hike, as markets suggest; we stick to our Q4 call.
Kelvin Lam (Senior China+ Economist)China+
- China consumer prices rose in April, after volatility in Q1 caused by holidays and base effects.
- The CPI changes were driven by higher energy and core inflation, but domestic demand was still feeble.
- The PBoC will use “flexible, precise and effective” monetary policy to promote reflation.
Kelvin Lam (Senior China+ Economist)China+
Despite tick-up in China CPI, demand is still weak; Producers still battle deflation
Kelvin Lam (Senior China+ Economist)China+
In one line: Chinese producers still battle deflation
Kelvin Lam (Senior China+ Economist)China+
In one line: China’s FX reserves fell sharply in April, thanks to a stronger dollar and a record rise in US yields
Kelvin Lam (Senior China+ Economist)China+
- China’s Q1 GDP grew solidly, thanks to vigorous manufacturing output and services growth.
- Services growth is broadening to business services, but the consumption recovery is relatively lacklustre.
- China will follow its own reform path at the Third Plenum, rather than adopting Western prescriptions.
Kelvin Lam (Senior China+ Economist)China+
In one line: Korean export recovery continues, thanks to resilient US and Chinese demand
Kelvin Lam (Senior China+ Economist)China+
- Korea’s WDA exports have grown solidly in recent months, pointing to a sustained recovery in demand.
- Semiconductors accounted for 70% of growth in April; both US and Chinese demand was resilient.
- Weak currency played a role in supporting exports; the level of export values is still below that in 2022.
Kelvin Lam (Senior China+ Economist)China+
