"This reinforces the story the electronics downcycle is at its end," Maybank Kim Eng economist Lee Ju Ye said.
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We do understand and advocate holding DG through any downcycle, but we think a better choice for defensiveness is DLTR.
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The unsecured online lending space which has been explosive in the last several years, once we hit a downcycle, that will be severely tested.
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Construction and demolition, for example, produce lots of inert waste that can be cheaper to put into landfill than to "downcycle" into lower-value construction materials.
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Overall, "the China property sector has entered a downcycle since early October, which should put pressure on property sales volumes," Nomura said in a research note.
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"Oil prices stabilized in the $40-50 range during the quarter and there is a growing belief that we are at or near the bottom of this downcycle," Seadrill said in a statement.
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"The market environment remains challenging, cyclical pressures are persisting, and we continue to steer our course through what feels like the bottom of an ordinary semi downcycle," Ploss told analysts on a conference call.
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Goldman Sachs said that "depending on the duration of the crude downcycle," Chevron could taper its buyback programme while Exxon Mobil Corp could slow down its $33 billion spending plans in 2020 and dividend growth.
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"We expect the downtrend in industrial profit growth to extend into 2019 given weakening domestic demand, the continued credit downcycle and an escalation in the China-US trade conflict," Nomura analysts said in a note to clients.
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As trade in downside bets picked up on CME, the authors of the Fed paper wrote, that created a broader downcycle that affected the underlying "spot" bitcoin market as well, reducing order flow and putting downward pressure on the price.
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The LNG industry is emerging from a multi-year downcycle thanks in part to demand in China as it switches to gas from coal for its energy generation but the concern for many players is timing their investment correctly in the upcycle.
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While orders for copper, used in everything from wiring to construction, have been moving at a decent pace, demand has failed to live up to the promise it showed after prices finally escaped a years-long downcycle in 2016, according to participants of the LMEWeek Asia conference in Hong Kong.
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At the same time, the rating remains constrained by (i) fragile operating environment, which is currently in credit downcycle due to a fall in oil prices, (ii) only moderate operating profitability, if adjusted for one-off gains in 2015, (iii) the bank's still limited franchise and track record; and (iv) some uncertainty with respect to the long-term sustainability of the bank's sizeable related-party funding.
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"Quite a few people believe the recent recovery in cyclical sectors marks the start of a new round of economic cycle, but it might be just a short-lived rebound in China's long period of downcycle," wrote Li Xunlei, economist at Qiu Securities Asset Management Co. Upbeat economic data is merely the delayed response to government stimulus measures, Li said, comparing the phenomenon to the time lag between lightening and thunder.
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"Quite a few people believe the recent recovery in cyclical sectors marks the start of a new round of economic cycle, but it might be just a short-lived rebound in China's long period of downcycle," wrote Li Xunlei, economist at Qiu Securities Asset Management Co. Upbeat economic data is merely the delayed response to long-expected government stimulus, Li said, comparing the phenomenon to the time lag between lightning and thunder.
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Granam continued to build in the first decade of the new century, making playoff appearances in 2001, 2003, 2004, 2005 and 2006, but then went through a downcycle of not appearing in the Series playoffs again until 2011, with appearances in 2012, 2015 and 2016. Finally in 2017, despite negative predictions by many commentators, Granma won the Cuban National Series, sweeping Ciego de Avila in four. Team manager Carlos Marti Santos dedicated the win to the memory of Fidel Castro and to the Granma fans. Alfredo Despaigne Rodriguez (Olympic medalist and player in Japanese and Mexican league baseball) said that the Series win was the greatest moment of his life in baseball.
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