Cheaper medicines and a new approach for mental health care 
Think the RBA will lift rates on Melbourne Cup day? Don't bet your house on it 
Why central banks are too powerful and have created our inflation crisis 
Chinese nationalist groups are launching cyber-attacks 
Europe is still in short-term crisis mode over Ukraine and lacks a vision for its post-war identity 
Term limits aren’t the answer 
Inflation: I've been analysing the Bank of England's forecast over the past two years – here's how they got it wrong 
Britain is not as broken as everyone seems to think 
How German media attention idealises female Ukrainian refugees 
How supermarkets are changing their branding to make you think they’re cheaper 
Major Asian asset baskets gained, with Australia shares jumping as RBA cuts rates.
The RBA cut its benchmark rate by 25 basis points to a record low 1.75 percent, noting that inflation data are unexpectedly low and that it is less concerned by the risk low rates pose to the housing market.
The Bank of Japan (BoJ) maintained its QQE policy of raising the monetary base by JPY80tn on an annual basis and of continuing to apply its negative rate of -0.1% to the current account (policy-rate balance), while the market may continue to expect additional QQE.
There is a risk that the market may once again perceive limits to the effectiveness of monetary policy if additional QQE were to be implemented.
Before the BoJ implemented QQE with negative interest rates, the market thought that there was a limit to the effects of monetary policy.
Uphold longs in CNH-TWD 3m NDF:
CNY-TWD is down by 1.3% including positive carry.
The trade has not done well on TWD's gradual one-way appreciation.
It should move higher in reasonable scenarios of Yuan depreciation.
The trade offered attractive carry of around 34bp/month at initiation, but is not attractive at the moment given the collapse in forward points.
Uphold Shorts in SGD-INR 1m:
SGD-INR cross is trading close to the top-end of the 2-year range.
SGD NEER has started trading in the upper half of the band although MAS eased SGD NEER appreciation path to neutral last week and Singapore data remains poor.
The INR should outperform on improved sentiment after the rate cut and revised liquidity framework and better monsoon expectations.
The trade carry has positive carry of 42bp/month.
Uphold Shorts in MYR/IDR 3m NDF:
In the favourable short term outlook and absent a massive flare up in the risk aversion, the inter-EM positive carry trades should perform well.
Entry point has become attractive after the recent rally, which seems to be stalling.
In Malaysia, political risks are underpriced while sentiment towards Indonesia is solid and bond inflows remain robust.
