East Asia Econ

East Asia Today

The highlight today was the BOJ governor's speech, which I thought was about as hawkish as it could be. In China, while the official services PMI last month was weak, the RatingDog/S&P version was strong. Also in China, PBC liquidity withdrawals suggest May was another strong month for fx inflows.

Paul Cavey

Jun 3, 2026 • 2 min read

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Japan – Ueda stresses inflation risks

Some highlights from governor's speech today: his remarks about strong bank lending, higher prices being a bigger burden to firms than rising rates, the link between low policy rates and the rise in market yields, and the upside risks to prices now that the "deflationary mindset has been dispelled".

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East Asia Today

A review of today's CPI release in Korea, a video discussing the market and macro consequences of the chip cycle, and some charts on the last trade release for April in China covering prices and volumes. Also, three charts highlighting why Governor Ueda's speech tomorrow is so important.

Public Post

Region – understanding Asia's chip cycle

My latest video, a discussion of everything you need to understand the macro implications of the huge chip cycle – what's driving it, why prices and volumes matter, the role of China, the growth and inflation consequences, and what it all means for markets.