From Crisis to Recovery

Real Vision: Finance & Investing

Real Vision

Investing, Business News, News, Business

4.1 • 1.1K Ratings

🗓️ 8 December 2022

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

U.S. jobless claims this morning rose to their highest level since February. Meanwhile, China’s outbound shipments plunged 8.7% year-over-year and Hong Kong stocks rose 3% as the financial hub considers easing up on covid lockdowns. On today’s show, Maggie Lake sits down with Taimur Baig, the Chief Economist of Singapore-based bank DBS, to discuss the mixed economic data from around the world, and hear why Taimur believes the global economy could be setting up for a promising recovery. We want to hear from you, so make sure to get your questions in! Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Is the Fed starting to win the fight against inflation? Hi, everyone. Welcome to the Real Vision
0:11.6	Daily Briefing with us today is Tomor Bague, Chief Economist at DBS Bank. Hi there. How are you?
0:18.1	Hi there. Good afternoon. Yeah, welcome to Real Vision, middle of the night for you.
0:23.0	Full disclosure and you're safe for doing it. You're usually based in Singapore where a DBS is
0:28.7	headquartered, but you're actually traveling and in Delhi right now. So different place, not a
0:34.0	better time zone, but we appreciate you being here. Happy to be with you. So I'm really excited
0:40.2	to actually get your take on the global economy. It's always good to get a perspective from another
0:44.9	part of the world before we jump in. If anyone has any questions as we're going along, you know what
0:49.5	to do, put them in the comment section of the website, drop them in the YouTube chat or you can
0:54.8	tweet us at Real Vision and we'll get to as many as we can. So Timor, let's start here in the US.
1:00.0	We saw US equities break a five day losing streak. We had a rise in weekly jobless claims,
1:05.1	but importantly, we get a big producer price number on Friday, which is tomorrow our time.
1:09.9	Probably you're there already. Do you think the Fed is making progress in the fight against
1:14.4	inflation? Well, sometimes you have to be a lucky general and in addition to being a good general,
1:20.5	and I think the energy markets in particular are beginning to make the Fed feel a bit lucky.
1:26.2	We could have been super bearish energy going into the end of 2022, early 2023,
1:32.0	because we probably have the makings of a whimper of discontent out of Europe around energy supply
1:38.5	and then hold this attempt to do price cap on oil or supply issues. All could have made for a very
1:45.4	worrisome end of 2022, thinking that maybe some of the energy related disinflation that everybody's
1:51.6	expecting would not materialize. But thankfully, that's not happening. Despite no sort of resolution,
1:59.2	meaningful resolution around Ukraine, we are heading into the end of 2022 with some of a slump
2:04.3	energy markets. And I think you will see that in the producer price data this month and the coming
	...

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