There are four large macro forces shape the investment and business climate here at the start of the last quarter of the year. First, the US economic outperformance has been stark. This has helped underpin US rates and bolsters the dollar. The divergence is likely to narrow in coming months as US growth slows rather than stronger growth prospects in other high-income countries. Second, Beijing has taken numerous measures, which although stopping well shy of the fiscal bazooka (like in 2008) many critics advocate, the cumulative effect boosts the chances that the 5% growth objective is achieved. Third, OPEC+, and ... (full story)