Shadow Banking

S&P Futures Jump Ahead Of GOP Healthcare Vote, Ignore China Commodity Crash

S&P futures rose on hopes a successful Republican healthcare vote on Thursday will unlock the Trump fiscal agenda, while European shares jumped to a 20 month high on signs Macron is poised to win Sunday's French election coupled with reassuring corporate results, including strong earnings from HSBC, even as Chinese and Australian stocks fell as commodities, and iron ore futures particularly, tumbled.

Chinese Economic Data Beats Across The Board After Record Credit Injection

Overnight China reported a barrage of economic data for March and Q1, that not only showed the first back to back GDP acceleration in seven years, but beat across the board as investment picked up, retail sales rebounded and factory output strengthened, following record credit growth and a fresh rebound in China's property markets which defy Beijing's attempts to taper the country's newest housing bubble.

Zimbabwe Central Bank To Accept Cows, TVs, Fridges As Collateral

As Zimbabwe desperately attempts to restart its monetary system, cow, cars, TVs, refrigerators, computers and other household appliances will become acceptable as collateral once they are evaluated and registered in the central bank’s register.

China Starts 2017 With Highest Number Of Corporate Defaults In History

China's default wave appears to have made landfall, and as Bloomberg reports overnight, China’s deleveraging push has racked up the most defaults on corporate bonds ever for a first quarter. "Seven companies have defaulted on a total of nine bonds onshore so far in 2017, versus 29 for all of last year."