FAST FIVE: Enjoy The Calm While It Lasts
For a second day protestors occupied Hong Kong International Airport (HKIA), closing it down, and this time there was an angrier, more mob-like aspect to it.
That suggests no need for Xi to move from a hard-line stance-on all fronts.
Again, enjoy the calm while it lasts.
Yes, we have also seen Aussie consumer confidence rise 3.6% m/m, which does seem to have benefitted from lower rates and banks perhaps being allowed to sign off silly mortgage loan levels again.
That was followed by wages, which were expected to rise just 0.5% q/q and stay at an unchanged 2.3% y/y but came in marginally stronger 0.6% q/q, 2.3% y/y – but which still underline why large loans are needed, i.e., the absence of decent pay rises.