To The Moon

Three Focus Points This Week

🔸 Focus 1: The Fed releases the minutes of its 28-29 July meeting on 19 August

The Federal Reserve Board's August calendar shows that the minutes of the 28-29 July FOMC meeting will be released on 19 August at 2:00 p.m. Eastern Time (2:00 a.m. Hong Kong time on 20 August). The same page lists no public speeches by Fed officials between 17 and 31 August.

As retrieved on 17 August, Investing.com showed the US Dollar Index at 99.337, the 10-year Treasury yield at 4.688%, the 30-year yield at 5.263% and the 10-year minus 2-year spread at 31.32 basis points.

Reuters reported on 17 August, in "Dollar falls to lowest since early June as rate hike bets fade", that the dollar index fell to its lowest level in more than two months as traders pushed back the timing they price for a Fed rate hike. An Investing.com article published on 16 August set out Morgan Stanley's view that disinflation has arrived while risks to the 2027 rate outlook remain. Also scheduled this week: a speech by ECB President Lagarde on 19 August and the accounts of the ECB's July meeting on 20 August, according to the Trading Economics calendar.

🔸 Focus 2: Traffic through the Strait of Hormuz slows, with three regular energy releases due this week

Reuters reported on 17 August, in "Shipping slows through Strait of Hormuz after tanker attacks, data shows", that traffic through the strait slowed over the weekend, and reported separately the same day that US-Iran talks had stalled. Reuters reported on 14 August that oil prices gained more than 5% over the week, ending two consecutive weekly declines.

As retrieved on 17 August, Investing.com showed Brent crude at 89.43 (+1.03%), WTI crude at 82.12 (+0.80%) and natural gas at 2.654 (-2.89%).

Regular releases tied to this theme this week: EIA crude oil stocks on 19 August (previous +17.422 million barrels), EIA natural gas stocks on 20 August (previous +36 Bcf) and the Baker Hughes rig count on 21 August (previous 455 oil rigs).

🔸 Focus 3: Baidu, Alibaba and NetEase report earnings between 18 and 20 August

According to the Trading Economics and Investing.com earnings calendars, the reporting schedule for US-listed Chinese companies this week is: Vipshop (consensus EPS 4.06) and H World on 17 August; Baidu (12.60) on 18 August; Weibo (0.36) on 19 August; and Alibaba (10.03) and NetEase (15.83) on 20 August. Those pages do not state the currency in which the consensus EPS figures are denominated.

Yahoo Finance showed the Hang Seng Index closing at 25,453.23 on 17 August, up 336.38 points or 1.34%, with a 52-week range of 22,518.00 to 28,056.10.

July data published by China's National Bureau of Statistics on 17 August, as carried by the Trading Economics and Reuters pages: industrial production up 4.5% year on year (market forecast 5.0%, June 5.3%), retail sales up 0.6% year on year (market forecast 1.5%) and the surveyed urban unemployment rate at 5.2% (previous 5.0%). Trading Economics shows that China's 1-year and over-5-year loan prime rates are due to be set on 20 August, currently at 3.0% and 3.5%, with the page showing market expectations of no change.

II. Three Areas in Focus This Week

The three areas below correspond to the three focus points above. All content is a compilation of publicly available information. Each area lists two related products: one exchange-traded ETF listed on a US or Hong Kong exchange, and one off-exchange mutual fund.

💵 I. Rates and USD bonds: 10-year Treasury yield at 4.688%, US Dollar Index at 99.337

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🛢️ II. Energy: Brent crude at US$89.43, WTI crude at US$82.12

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🇨🇳 III. China ADRs and Chinese consumption: Hang Seng Index closed at 25,453.23 on 17 August, up 1.34%

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III. Sources

The data and information in this report are compiled from the following publicly available pages:

• Trading Economics economic calendar: https://tradingeconomics.com/calendar

• Trading Economics earnings calendar: https://tradingeconomics.com/earnings

• Investing.com earnings calendar: https://www.investing.com/earnings-calendar/

• Federal Reserve Board August 2026 calendar: https://www.federalreserve.gov/newsevents/2026-august.htm

• Investing.com economy news: https://www.investing.com/news/economy

• Investing.com commodities news: https://www.investing.com/news/commodities-news

• Yahoo Finance Hang Seng Index quote: https://finance.yahoo.com/quote/%5EHSI/

References to Reuters, Morgan Stanley and China's National Bureau of Statistics are drawn from the aggregator pages listed above rather than directly from those institutions' original publications, with the exception of the Federal Reserve calendar. The Hang Seng Index level is the 17 August close (the source page is marked as a delayed quote); US index, commodity and FX quotes were retrieved intraday on 17 August. Event times and consensus EPS figures are taken from the public calendar pages above; actual release times and consensus figures may change. This report does not contain the outcomes of the events listed.

This report is a compilation of publicly available market information. The data and third-party views contained herein are for informational purposes only and do not constitute investment advice, an offer or a recommendation. The event schedule and market expectations listed are taken from third-party public pages and do not represent this firm's view on the outcomes. Past fund performance is not indicative of future returns. Investing involves risk.