|2015/11/05||What Will the 13th FYP Hold in Store? |
Shortly after the Fifth Plenary Session of the 18th CPC Central Committeeconcluded on 29October, the Central Government released "The CPC Central Committee's Proposal on Formulating the Thirteenth Five-year Plan (13th FYP, 2016-2020) on National Economic and Social Development"(the Proposal) on 3 November. The Proposalcovers the details and the chain of thought of the Central Government in various areas, from protecting agricultural land and accelerating financial reform to the opening up of the Chinese economy.
After recording 7%YoY growth in the first half of 2015, China’s third quarter GDP growth dipped slightly to 6.9%YoY, the slowest quarterly growth since the first quarter of 2009, when the economy grew 6.2%.
|2015/10/19||It is autumn, and it is time for a hike|
The Federal Open Market Committee (FOMC) is scheduled to meet on 27 and 28 October to discuss interest rates, among other issues. At the time of writing, the federal fund futures trading price suggested a 6% chance for the Federal Reserve to raise the interest rate on federal funds by 25bps. That being said, we believe there are reasons to support the first rate hike since the global financial crisis.