Daily News

Protests In China = Global Growth Concerns

Good Morning Everyone!

Somebody forgot to tell consumers we're headed into a recession.



Prices as of 4 pm ET, 11/25/22; % YTD


Complicating China’s path to reopening

  • Protests erupted against China’s Covid-Zero strategy

  • Wide spread: Beijing, Shanghai and over 100 Universities

  • Largest threat to Chinese power since Tiananmen crisis 30 years ago

  • China ETF

President Xi Jinping has recently secured a 3rd term

  • And XI appointed Li Qiang (oversaw Shanghai lockdown) to the party’s #2 spot

  • How will Xi react?

  • Concern is that China will either suffer from continued lockdown measures

  • Or…

  • A health crisis if the government is forced to back-off from Zero-Covid

  • If China is to reopen, we need to see a pivot from lockdowns to increased vaccination rates


  • 4.2% to 3.6%

  • Falling bond yields may be signaling the expected slow-down in 2023

Wednesday Jay Powell commentary

Friday November U.S. jobs data

December 14     FOMC meeting

It’s interesting that the US dollar is weaker today in a “risk-off” tape

Crude 74 -2%

  • Year to date, WTI crude is down 1%

Apple (NASDAW:AAPL)   -2%

  • Concerns on iPhone Pro-14 unit shortfalls due to Chinese protests

  • Plant in Zhengzhou likely result in a 6 million iPhone Pro shortfall this year

Thanksgiving Day online spending (Black Friday)

  • Adobe (NASDAQ:ADBE) reports online spending hit a record of $5.3 billion

  • Up 2.9% year over year

Earnings None


Binance officially presents proof of reserves system

  • Two weeks ago pledged to develop system

  • Merkle-based system to verify holdings

  • Bitcoin currently only token can use system

    • Coins to be added over coming weeks

SBF to speak Wednesday at New York Times event

  • Dealbook summit with Andrew Sorkin

  • Other speakers include Larry Fink (BlackRock), Eric Adams (NY mayor), Mike Pence (former vice president), President Zelensky (Ukraine), Mark Zuckerberg, Reed Hastings (Netflix)

What's your reaction?

In Love
Not Sure

Leave a reply

Your email address will not be published. Required fields are marked *

Next Article:

0 %