CHN News and Press, China Fund Inc. From 08/09/21

The U.S. is passing the baton in leading the economic restart to other developed markets; but we see fresh challenges in many emerging markets. Better-than-expected U.S. jobs data drove U.S. 10-year bond yields to the highest level in two weeks. U.S. stocks hit record highs. China...

Crude oil is selling off sharply to levels not seen since the swoon in late June as worries about the COVID Delta variant's impact on global growth increase. WTI futures (CL1:COM) -4.5% are approaching $65/barrel. U.S. crude hasn't settled below $66 since late May. Brent futures (CO...

A significant divergence between China and the Global manufacturing PMI has opened up. While there are a few factors at play, the largest driver of the gap has been policy divergence (China undertook a relatively conservative stimulus program last year vs global). Just as the worl...

So historically we have not seen negative yields. Ever. I’ve looked at a lot of history books, I have not found persistent nominal negative yields, at least in written history. Right now, it would be a little bit tough to say that interest rates are free. Interest rates are whe...

The unpredictable nature of politics and government action within individual countries has long been fundamental to institutional investors’ case for disaggregating international exposure. Recent moves by the Chinese government in balancing social agenda versus growth (implemen...

Companies that make money, and particularly those that grow their earnings year after year, see the prices of their shares rise. The combination of continued very low interest rates, reopening of the North American economies and ample governmental support encouraged investors to put m...

A marked fall in business optimism in July hints that companies could become reticent to expand capacity while the pandemic continues to hit supply chains. Output growth continued to run behind the growth of new orders for a fifth straight month, meaning backlogs of work rose sharply ...

As mentioned in previous TSI commentaries, the monetary backdrop will stop being supportive for the US stock market after the annual TMS growth rate drops below 6%. All else remaining the same, the relatively small amount of monetary inflation in China over the past 16 months would pa...

We see China’s regulatory crackdown that recently rattled markets likely to moderate, alongside a dovish shift in macro policy, for the near term. The Federal Reserve noted further progress in the economy as expected; we see a tapering of asset purchases unlikely to start befor...

Since I started going to China 36 years ago, I have found that most Western observers who do not have direct contact with policymakers and don’t follow in detail the patterns of the changes have tended to not believe that the Chinese Communist Party’s usage of capital market...