The Chinese and U.S. stock markets are going in opposite directions, as an intensifying crackdown against leverage has slammed the recently 'stable' Shanghai Composite over the past week, erasing all post-Trump gains. The relatsionship between the two markets is the weakest since August 2008 - just before the collapse of Lehman unleashed chaos on the global financial system.
Silver was a safe haven at times during which gold failed to be. Platinum and palladium are increasing in investment importance. Research shows hedging,diversification benefits role of precious metals.
The much anticipated Tesla Model 3 has yet to be released and already a groundswell of electric car competition is forming to challenge Elon Musk's upcoming offering. Start in China, where the Model 3 is not due to arrive until next year, but already Chinese-funded, smart, connected plug-in car start-ups are scrambling to launch "Tesla killer" cars to go head-to-head against Tesla "mass market" sedan.
“If we can’t even trust a big national bank, what other financial institutions can we trust?” Liu Min, who bought 12 million yuan worth of WMPs from Minsheng Bank, said as he learned that his money was gone.
China's central bank has relaxed some of the curbs on cross-border capital outflows it put in place just months ago to shore up the yuan currency. As of last week, the PBOC is no longer demanding that banks match outflows with equal inflows
The Left is morally and fiscally bankrupt, devoid of coherent solutions, and corrupted by its embrace of the Corporatocracy. Its descent to fascism has too much momentum to be stopped. Isn't it obvious that the only way forward is to jettison both the Left and Right flavors of state-cartel Corporatocracy and pave a third way?
European stocks slide s traders return from a 4-day Easter holidays, Asian equities likewise drop pressured by the ongoing rout in iron ore, while U.S. stock-index futures point to a lower open. British markets were roiled after U.K. Prime Minister Theresa May said she would seek an early election on June 8. The FTSE 100 droped 1.3%, on the news, hitting the lowest since Feb. 24
Following Sunday night's resumption of trade after a three-day weekend, which saw sharp moves lower in US yields, the dollar and the USDJPY after Friday's disappointing CPI and retail sales data and the weekend North Korea jitters, the mood has stabilized in light trading with Asian stocks advancing, Europe mostly closed for Easter Monday and S&P futures fractionally lower
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.
Soft data momentum has been strong for some time, pulling expectations higher too. The change in global data surprises has reached levels it typically mean-reverts from. In the meantime, market volatility across all assets has declined sharply. This configuration, the opposite of that in Feb 2016, warns us against adding risk aggressively now.
China has to "demonstrate that its lack of intervention to resist appreciation over the last three years represents a durable policy shift by letting the RMB rise with market forces once appreciation pressures resume."