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(1) Do Not Hedge Stocks With USD/CNY (2 min read) MS Asia FX strategist Mirza Baig gives his take on this week’s turbulence in Chinese equity markets. He sees a limited fallout on FX given flow buffers and PBoC smoothing.
(2) Welcome to Inflation (4 min read) In a provocative take on inflation, John Welch decomposes the COVID shock into aggregate demand and aggregate supply components for both the US and Brazil. With negative supply shocks dominating in the US and positive demand shocks in the pipeline, he see risks of a Brazil-like stagflationary performance.
(The commentary contained in the above article does not constitute an offer or a solicitation, or a recommendation to implement or liquidate an investment or to carry out any other transaction. It should not be used as a basis for any investment decision or other decision. Any investment decision should be based on appropriate professional advice specific to your needs.)
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