MBCC TH 8th August'23 - "We keep waiting for this "recovery" that is not seen/getting worse day by day...when does the street give up?"

Chinese data overnight showed China's exports, imports fell at faster pace in July #Exports, in USD terms, fell 14.5% y/y in Jul, vs previous 12.4% drop. Imports fell 12.4% y/y in Jul, vs previous 6.8% fall. So not only is the domestic market still falling, but so is the rest of the world!

Watch the Yuan today…we tell you what it means and where/what assets are going to be impacted!

Its all one big macro trade….everyone has hopes on this 2H recovery…but what can happen?