According to HSBC, this year there have been no net inflows into American money-market mutual funds.

据汇丰银行称，今年美国货币市场共同基金没有出现净流入。

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After several quarters of robust growth, industrial production has caught back up with its long-term trend in all Asian countries except Japan, Singapore and Malaysia, according to HSBC.

据汇丰银行透露，经过了几个季度的强劲增长，除日本、新加坡和马来西亚以外亚洲各国的工业生产水平逐渐赶上长期发展趋势。

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Even in China, according to an index prepared by Markit and HSBC, manufacturing output fell a little in June, ending a 14-month run of expansion.

根据Markit与汇丰银行的统计指数显示，中国生产也结束了连续14个月的增长，在6月出现了略微的下跌。

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But European profits are down by 7% compared with the previous year, according to HSBC.

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The answer is yes, according to HSBC analyst Antonin Baudry.

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Strong fundamentals along with ample liquidity, which will remain in the system even after the end of QE2, and a lagging, even deteriorating economic outlook for developed nations, will provide support for EM investments in the short-term, according to HSBC.

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