string(13) "markets-macro"

Macro

December 15, 2022

Flash talk | China’s 2023 outlook

Now China has given zero-COVID the flickCOVID itself is spreading real quickHere at Trivium, we are no exceptionWith most of our team battling some grizzly infectionAnd it’s not just COVID that’s making us sneezeOur ailments include hand, foot, and mouth diseaseBut despite the coughing, the blisters… Username Password Remember Me Forgot Password

December 15, 2022

Give me a break

Guess who’s not happy with the US effort to bring allies on board with export controls? On Wednesday, ASML CEO Peter Wennink told Dutch media NRC that the company has “given up enough” to Washington. Some context: Wennink is referring to the fact that under US pressure, ASML has stopped shippi…

Guess who’s not happy with the US effort to bring allies on board with export controls?
On Wednesday, ASML CEO Peter Wennink told Dutch media NRC that the company has “given up enough” to Washington.
Some context: Wennink is referring to the fact that under US pressure, ASML has stopped shippi...

sources

Bloomberg: ASML’s CEO Pushes Back on Further Export Restrictions to China

December 15, 2022

Arm blocks data center chip design

On Wednesday, FT reported that Arm will stop licensing its latest chip design to China and will fall in line with the Wassenaar arrangement, a multilateral export control regime for military use. Some context: Wassenaar is the agreement under which, since 2019, ASML’s EUV lithography machine –…

On Wednesday, FT reported that Arm will stop licensing its latest chip design to China and will fall in line with the Wassenaar arrangement, a multilateral export control regime for military use.
Some context: Wassenaar is the agreement under which, since 2019, ASML’s EUV lithography machine –...

sources

FT: Export controls hit China’s access to Arm’s leading-edge chip designs

December 15, 2022

With friends like this, who needs entities?

On Wednesday, US media reported the Commerce Department will add China’s premier memory chip maker YMTC to the US Entity List. Along with YMTC, notable IC design firm Cambricon and leading lithography equipment maker Shanghai Micro (SMEE) were also added to the list. ICYDK: US companies are…

On Wednesday, US media reported the Commerce Department will add China's premier memory chip maker YMTC to the US Entity List.

Along with YMTC, notable IC design firm Cambricon and leading lithography equipment maker Shanghai Micro (SMEE) were also added to the list.

ICYDK: US companies are...

sources

FT: US to add Chinese chipmaker to trade blacklist

Bloomberg: US to Add More Than 30 Chinese Companies to Trade Blacklist

MoFA: Foreign Ministry Spokesperson Wang Wenbin’s Regular Press Conference on December 14, 2022

Bloomberg: US Blacklists More Chinese Tech Companies, Escalating Trade Fight

December 15, 2022

Money’s too tight to mention

The bond market’s decline is impacting the real economy. Beijing is looking for ways to lessen the pain. On Wednesday, Bloomberg reported that regulators have asked some of China’s largest banks to instruct their proprietary trading desks to buy bonds. Some context: Since mid-November, spurred by op…

The bond market’s decline is impacting the real economy. Beijing is looking for ways to lessen the pain.
On Wednesday, Bloomberg reported that regulators have asked some of China’s largest banks to instruct their proprietary trading desks to buy bonds.
Some context: Since mid-November, spurred by op...

sources

Bloomberg: China Asks Banks to Buy Bonds Via Prop Desks After Market Slump

December 15, 2022

To whom it may concern

He may be about to retire, but the chairman of China’s banking regulator (CBIRC), Guo Shuqing, still has plenty to say about financial sector reform. On Wednesday, the People’s Daily published a lengthy article by Guo on just that topic. Guo is unlikely to be in the job for much longer, so the essa…

He may be about to retire, but the chairman of China’s banking regulator (CBIRC), Guo Shuqing, still has plenty to say about financial sector reform.
On Wednesday, the People’s Daily published a lengthy article by Guo on just that topic.

Guo is unlikely to be in the job for much longer, so the essa...

sources

PBoC: 郭树清：加强和完善现代金融监管（认真学习宣传贯彻党的二十大精神）

December 15, 2022

Energy regulator publishes power industry cybersecurity regs

Yesterday, the National Energy Administration (NEA) published the “Cybersecurity Administrative Measures for the Power Industry.” The measures apply China’s rapidly maturing cyber and data security legal framework to the power sector. What caught our eye: The document calls on the NEA to identify …

Yesterday, the National Energy Administration (NEA) published the “Cybersecurity Administrative Measures for the Power Industry."

The measures apply China’s rapidly maturing cyber and data security legal framework to the power sector.

What caught our eye: The document calls on the NEA to identify ...

sources

Gov.cn: 国家能源局关于印发《电力行业网络安全管理办法》的通知

December 15, 2022

Kill (Huawei) bill

On Wednesday, bipartisan legislation was introduced in the US that calls for Huawei to be included on the Specially Designated Nationals (SDN) List. Some context: SDN designation essentially ends the target’s access to the dollar-dominant international financial system. It also bars US-friendly cou…

On Wednesday, bipartisan legislation was introduced in the US that calls for Huawei to be included on the Specially Designated Nationals (SDN) List.
Some context: SDN designation essentially ends the target's access to the dollar-dominant international financial system.

It also bars US-friendly cou...

sources

Senate.gov: COTTON, VAN HOLLEN, COLLEAGUES INTRODUCE BILL TO CUT HUAWEI AND CHINESE 5G COMPANIES OFF FROM U.S. BANKS

US Congress: Gallagher, Colleagues Introduce Bipartisan Bill to Freeze Huawei from U.S. Financial System

December 15, 2022

All stick, no carrot

Get rural development moving, or there will be consequences. That was the message on Tuesday, when the Party Central Committee and the State Council published Measures for the Implementation of the Rural Revitalization Responsibility System. This high-level policy document assigns responsibility f…

Get rural development moving, or there will be consequences.
That was the message on Tuesday, when the Party Central Committee and the State Council published Measures for the Implementation of the Rural Revitalization Responsibility System.
This high-level policy document assigns responsibility f...

sources

Xinhua: 中共中央办公厅国务院办公厅印发《乡村振兴责任制实施办法》

Guangming Daily: 全面落实乡村振兴责任

December 15, 2022

Wang replaces Wang on Taiwan

Get excited. Wang Huning, the Party’s fourth highest-ranked official, is taking over the Taiwan portfolio from Wang Yang, who held the fourth spot until October’s Party Congress reshuffle. Wang (H.) is expected to replace Wang (Y.) as chairman of the political advisory body (CPPCC) in March, and al…

Get excited. Wang Huning, the Party's fourth highest-ranked official, is taking over the Taiwan portfolio from Wang Yang, who held the fourth spot until October's Party Congress reshuffle.

Wang (H.) is expected to replace Wang (Y.) as chairman of the political advisory body (CPPCC) in March, and al...

sources

Xinhua: 第十一次全国台湾同胞代表会议在京召开王沪宁出席并讲话

Xinhua: 第十次全国台湾同胞代表会议在京召开汪洋出席并讲话

December 15, 2022

China’s next Iron Lady?

Former Guizhou Party Secretary Shen Yiqin is likely to be made a State Councilor in March. At least that’s what we are hearing. Why it matters: Shen, who turns 63 on Thursday, is one of China’s few prominent female politicians. As a State Councilor, she would be China’s highest-ranking woman, ex…

Former Guizhou Party Secretary Shen Yiqin is likely to be made a State Councilor in March.

At least that's what we are hearing.

Why it matters: Shen, who turns 63 on Thursday, is one of China’s few prominent female politicians.

As a State Councilor, she would be China's highest-ranking woman, ex...

sources

Xinhua: 贵州省委主要负责同志职务调整徐麟任贵州省委书记

December 15, 2022

OK Consumer

If document length is anything to go by, Beijing is gettin’ reeeeal serious about boosting consumption. No, no. They really mean it this time. On Wednesday, the Central Committee and the State Council released a wide-ranging strategic plan to support domestic demand through 2035. It’s an absolute …

If document length is anything to go by, Beijing is gettin' reeeeal serious about boosting consumption.

No, no. They really mean it this time.

On Wednesday, the Central Committee and the State Council released a wide-ranging strategic plan to support domestic demand through 2035.
It's an absolute ...

sources

Gov.cn: 中共中央国务院印发《扩大内需战略规划纲要（2022－2035年）》

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