International News (Issue 382) – 15 January 2016

In global terms, China remains front and centre.

We spoke at length about the issues and perceptions of China in our ‘New Year’ note on Tuesday, so I won’t go over old ground here.

Suffice to say, the December trade balance figures out of China earlier in the week were certainly a lot better than many of the bears expected and bolster our opinion that we are unlikely to see full-scale capital flight from China.

In the US, most of the focus within the share-market is on the slew of disappointing earnings and guidance that has come out from the so-called ‘Apple supply chain’ – companies supplying componentry into Apple smartphones and tablets.

Well over a dozen companies across the US, Europe and Asia have reported significant deterioration in forward order books during the latter half of 2015 and now point towards a material weakening of Apple’s product sales year-on-year – in fact the December quarter is HIGHLY LIKELY to be the first year-on-year decline in Apple I-phone unit volumes

Apple report earnings on Tuesday January 26th.

The US share-market is on holiday on Monday night with Martin Luther King Day.

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