(Bloomberg) — Let’s cut to the chase. After a truly seismic week for markets, politics and the “Chief Twit,” here are the big questions you may want to know the answers to as you settle into the weekend:
- When is China finally going to give up its Covid Zero policy?
- Why doesn’t it apply to ping pong players?
- Is the Fed going to keep going till we’re all in a recession?
- Will Donald Trump be allowed to start tweeting again?
- And is Deauville Legend going to win the Melbourne Cup?
OK, there‘s no link for that last question, because we don’t know, but the race that stops a continent will reveal all on Tuesday.
For those fretting about inflation, how would you like a 20% cut in your downtown apartment rent? Well you probably won’t get one in New York or London, and especially not in Singapore, but in Hong Kong, fleeing foreigners are leaving behind empty flats and leases are tumbling. Here’s how the old battle between Singapore and Hong Kong is playing out around the condo pool.
For most everyone else, inflation remains a looming menace, forcing central banks to compete with higher interest rates. But is that the best way to tame prices? In this podcast from our What Goes Up series, economist Nela Richardson argues it may be the worst solution.
And then there’s the stock market.
Fear, chaos and capitulation. That’s how some senior asset managers described this week’s meltdown in China’s stocks after Xi Jinping tightened his grip on power. But after Chinese assets took a record thumping on Monday, is it time to buy? And are there signs of recovery in the battered tech sector?
Going for Gold
Faced with a yawning trade deficit, India’s government is turning to the gods. Or, more specifically, to the temple trusts that are empowered by law to act on behalf of the deities. The temples have amassed about 4,000 tons of gold — about as much as the US holds in Fort Knox — donated by grateful devotees celebrating their good fortune, such as the birth of a child. Now, the Modi administration wants the hoard to be melted down.
Across the border in Pakistan, former Prime Minister Imran Khan has begun his weeklong march from Liberty Square in Lahore to the capital Islamabad, in an effort to pressure the government into holding early elections.
And finally, ICYMI, here is everything, and I mean everything, you ever needed to know about crypto.
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