Quarterly Outlook
Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?
John J. Hardy
Global Head of Trader Strategy
Summary: November data shows China is still nowhere near turnaround. Accordingly, PBOC conducted series of policy interest rate cuts across MLF, LPR etc. Fiscal stimulus measures are also on the way with local governments required to speed up debt issuance. Yuan remains US-China headlines driven and new Hong Kong Bill created further uncertainties on trade deal.
Monthly Macro Outlook: Fiscal Stimulus on The Way