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🇩🇪 🇩🇪 BREAKING: The German consumer price inflation rate was confirmed at 4.5%Y/Y in September 2023, easing sharply from 6.1% in the previous months and marking the lowest rate since the outbreak of the war in Ukraine in February 2022
🇨🇳 🇨🇳 UBS expects China’s consumption growth to pick up to 5% or 6% toward the end of 2024, noting that there’s “no way” retail sales can go back to 9% in the near future due to low consumer confidence
🇨🇳 🇨🇳 Chinese companies are expanding their share of the US and European electric-car battery markets thanks to lower prices, cementing their domination of the industry globally
🇳🇬 🇳🇬 The International Monetary Fund welcomed reforms that are being implemented by Nigerian President Bola Tinubu’s government, and it forecast faster economic growth in the West African nation and other key economies on the continent
🚨 🚨 RBC Capital Markets: “Clearly the run-up in bond yields at the long end of the curve, which has led to the increases in unrealized bond losses, is weighing on the [bank] stocks. The scar tissue is so thick in the long-only investment community from what happened in March, that they’re not ready to come back into the bank stocks in any meaningful way”
🌏 🌏 Asia’s emerging equities, excluding China, are poised to see the longest streak of foreign outflows in more than a year as expectations that US rates may remain higher for longer weighed on investor sentiment
🇭🇰 🇭🇰 Hong Kong mortgage loans that exceed the property’s value are likely to exceed 5%—their highest since 2005 next year if home prices keep falling, according to Bloomberg Intelligence