CSOP USD Money Market Fund - 20241018

· Last week, data reflected better-than-expected domestic consumption and labor market.

· Retail sales in September rose by 0.4%, surpassing the 0.3% consensus, and the control group increased by 0.7%, also beating the 0.3% consensus. As such, economists believe these figures indicate a stronger consumption growth rate in 2H24.

· Initial claims dropped by 19k to 241k, lower than the 259k consensus, partially reversing the manufacturing-related increase in Midwest states the previous week.

· With that, we expect CSOPUMM to continue to deliver stable yield in the near term. As of 20241018, the fund has gross yield of 5.13% and net yield at 4.85%. ^

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