China+ Publications
Below is a list of our China+ 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
Please use the filters on the right to search for a specific date or topic.
Japan's robust services sector contrasts with drab manufacturing activity; Exports still strong, despite headline dip
Duncan WrigleyChina+
- Japan’s March flash manufacturing PMI points to still-tepid activity, though improving modestly.
- The service sector continues to shine brightly, albeit based narrowly on tourism and finance.
- A jump in service-sector input costs is a worrying sign of persistently elevated inflation.
Duncan WrigleyChina+
In one line: The BoJ scraps negative rates and YCC policies in March, hinting at no further tightening unless inflation spikes.
Kelvin Lam (Senior China+ Economist)China+
In one line: The BoJ scraps negative rates and YCC policies in March, hinting at no further tightening unless inflation spikes.
Kelvin Lam (Senior China+ Economist)China+
- The BoJ raised interest rates for the first time in 17 years, while ending YCC and risky asset purchases.
- At the press conference, Governor Ueda’s rhetoric on the future path of the policy rate was neutral.
- Japan’s monetary policy should stay accommodative unless significant inflationary pressures mount.
Kelvin Lam (Senior China+ Economist)China+
China activity - industrial sector powers ahead, despite persistent property drag and retail sales losing steam
Duncan WrigleyChina+
- China’s lopsided recovery continued in January and February, led by a galloping industrial sector...
- ...Demand is likely mainly coming from exports and fixed asset investment, with consumption still tepid.
- Further price cuts should drive car sales, while new-property developer woes continue.
Duncan WrigleyChina+
PBoC stands pat on MLF rate; draining cash from banking system first time since end 2022.
Kelvin Lam (Senior China+ Economist)China+
Fiscal stimulus likely to drive credit demand after the holiday period
Duncan WrigleyChina+
- China’s February credit data indicate still-flat borrowing demand, after filtering the holiday noise.
- Credit growth is likely to pick up as government-bond issuance rises to fund fiscal support.
- The equipment-upgrade and ‘cash-for-clunkers’ measures should also spur loan demand.
Duncan WrigleyChina+
