Shenzhen

Slowdown In China's Tier 1 Housing Market Accelerates; First Beijing Price Drop Since 2015

China's overall housing market remained resilient in June according to official NBS data on Tuesday, even as the decline in Tier 1 cities accelerated and home prices in Beijing fell for the first time in more than two years, while Shanghai declined further and Shenzhen stalled, pointing to significant cooling in China's biggest real estate markets.

Dollar Tumbles, Euro Soars After Obamacare Repeal Dies; China Intervenes To Halt Rout

The Bloomberg Dollar Index tumbled to a fresh 10-month low after two more Republican defections on Monday night doomed the proposed GOP healthcare plan in the Senate. And while Treasuries rose on concerns about inflationary pressures and the viability of the Trump stimulus agenda, S&P futures rebounded gingerly from session lows, and were up 0.1%

Sleepy Overnight Session Interrupted By Chinese Market Turmoil

While it was indeed a generally quiet session (with Japan markets closed), US equity futures continued their run into record territory (ES up 0.1% to 2,458.50), and Europe fractionally lower, the early Monday focus was on the previously discussed turmoil for Chinese markets where despite a solid set of Chinese data small caps tumbled, selling off into the close after further warnings of regulatory scrutiny and deleveraging,

"A Reverse Rollup From Hell": China's "Boldest Dealmaker" Faces Margin Call Disintegration

China's "boldest dealmaker", HNA Group, suddenly faces not only growing regulatory scrutiny from Beijing that threatens to raise HNA’s financing costs, but also send its shares plunging as holders are forced to liquidate, accelerating the company's demise. And, in an scenario that can only be dubbed as a "reverse rollup from hell" if the value of its stock price falls enough, HNA may soon be forced to disintegrate.

China Downgrade Forgotten As Asia Closes Higher, Futures Flat Ahead Of Fed Minutes

Not even last night's Moody's credit downgrade of China - the first since 1989 - could dent the global stock rally which has pushed global stock prices to all time highs. After initially sliding, regional stocks and emerging Asian currencies pared early losses following the unexpected downgrade of China, taking their cue from the "sudden reversal" of the Shanghai Composite Index, which some speculated saw the latest intervention of the "national team."

JPMorgan: "Comey’s Dismissal Saps Trump’s Political Capital At The Worst Possible Time"

Trump managed to go a few days w/o controversy (a relatively long stretch for the current White House) but the Comey firing is by far the biggest headline of the night. As far as the market is concerned, Comey’s dismissal saps Trump’s political capital and weakens relations w/Congress at the time when he is trying to move an ambitious pro-growth agenda through the Senate and House.

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."