In This Week’s Issue…

by Alexander Kalis | Managing Partner & Head of Investments at Milltrust International

Chinese New Year consumption growth slows, China’s crude oil demand at risk of decelerating, Indian inflation causes concerns, Brazil corruption perception worse than Argentina, and Russia hoards gold. 

CNY Consumption Growth Slows

Chinese consumers spent 926 billion yuan ($146 billion) during the Lunar New Year holidays of 2018, 10% more than during last year’s holiday season, according to the Ministry of Commerce, but at the lowest growth rate since 2005. Here is what they spent it on.

China oil

Meanwhile, S&P Platts analysts have estimated that China’s crude oil demand growth could slow down this year to 4.2 percent from 2017, versus 5.5 percent last year.

India’s Bond Rout

India’s bond rout is deepening as Prime Minister Narendra Modi’s expansionary budget prompts a hawkish turn from the central bank amidst concerns that inflation, already running at faster than 5 percent, would accelerate.

Brazil Corruption

Brazil is now seen as more corrupt than Argentina for the first time in over two decades after suffering last year one of the biggest plunges among the nations tracked by a global transparency ranking.

Russian Gold Hoard

Finally, Russia has overtaken China as the fifth-biggest sovereign holder of gold, allowing it to diversify its foreign currency holdings amid a deepening rift with the U.S.

Here’s what else you should read

Key charts you should look at

Click here to read.

Click here to subscribe.