The Day Today 4th August 2022

  • China begins live fire military drills around Taiwan.
  • Toyota quarterly operating profit almost halves as China Covid lockdowns forced it to curb production.
  • Outflows from Chinese bonds continue in July according to IIF.
  • Japan electronics producers warn of production cuts as inventories piled up during China lockdowns.
  • Tiger Global admits “it is clear we underestimated the impact of rising global inflation and entered 2022 with too much exposure”.
  • Hedge Funds on track for worst year since 2008, according to HFR.
  • US Senate ratifies Sweden and Finland NATO accession.

BM Talks: Rana Mitter Speaks
Rana Mitter, Professor of the History and Politics of Modern China answers our questions on whether China will invade Taiwan, how long the Zero Covid policy can last, and what the CCP make of Liz Truss…

The Week That Will Be
The UK, poor old BOE started hiking early but did a terrible sales job of it, they’ll be forced to hike 50bp on Thursday; The Fed, turbocharged hawks still, but they’ll want a lower NFP Friday in the upside down world; Australia, 50bp hike coming on Tuesday; Earnings, Tuesday sees Starbucks, Wednesday Moeller-Maersk, Thursday Glencore.

On this day in 1944, Anne Frank and her family were arrested by the Gestapo.

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