UBS maintains a constructive view on Chinese assets ahead of a low-expectation Trump-Xi summit while monitoring rising inflation risks in India that support steepening trades.
Key Takeaways
- 1.Low expectations for the Trump-Xi meeting on May 14-15 leave room for upside surprises in stabilization dialogue.
- 2.Constructive outlook on China A-shares and CNH remains, supported by raised EPS growth forecasts to 11% y/y.
- 3.India's April CPI inflation is expected to rise to 4.7% y/y, driven by firmer food prices, prompting a preferred 1s5s curve steepener trade.
Table of Contents
- Trump-Xi meeting (14-15 May) and China CPI inflation (11-May)
- India CPI inflation (12-May)
- Asia Emerging
- Valuation Method and Risk Statement
- Required Disclosures
- UBS Global Research Disclaimer
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Authors
Teck Quan KohRohit Arora
Securities
USDCNHChina A-shares5Y CNY NDIRSIndia 10Y Yield
Themes
Geopolitical StabilizationEmerging Market Reflation
Regions
Asia PacificChinaIndia