Monthly Macroeconomic Update - May 2019

Monthly Macroeconomic Update - May 2019

Market continued to be weighed down by trade war tension while weakness in HKD indicated money outflows.

Residential presale turned quiet during the month as the Hang Seng Index fell more than 2,500 points.

US Treasury yields are implying rising possibility of a recession in 2H2020 and market is beginning to discount a possible rate cut in early 2020.

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