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The Carnage Continues In Asia As China PMI Confirms Contraction Deepening

Tyler Durden's picture




 

Following last week's Flash PMI print of 49.6, the Final print for January China Manufacturing dropped further to 49.5 confirming the contraction is deepening. Japanese stocks were down the most since August in the early going as Nikkei futures extended the losses from the US day-session (and rather notably decoupled from USDJPY and breaking below 15,000). The Nikkei is heading for the worst month since May 2012 (-8.66% so far). S&P futures tracked USDJPY as 102.00 was defended aggressively. Chinese stocks are also tumbling (though not as hard as Japan and US) and the PBOC will not be adding liquidity today. Furthermore the blame is being shifted as Deputy FinMin Zhu warns that the "Chinese economy faces risks from overseas uncertainty." EM FX is drifting lower still.

 

The Final HSBC Manufacturing PMI print dropped from 49.6 Flash to 49.5 - its biggest drop since June and lowest since July 2013...

 

The Lowlights...

"Employment levels at Chinese manufacturers had quickest reduction of payroll numbers since March 2009"

 

"New export orders declined for the second month running in January, firms mentioned weaker demand in a number of key export markets."

 

Bad for Australia: "the rate of input price deflation was marked overall, amid reports of lower raw material costs."

 

"Reduced cost burdens were passed on to clients and marked the second consecutive month of discounting"

 

 

Japanese bank stocks are down 9% in the last 5 days and Real Estate stocks -12.5% in the last 2 weeks. But most concerning to Abe (and the rest of the carry-trade addicted mob) is the disconnect between JPY and NKY...

 

The Nikei is now down over 500 points from its post-Turkey-is-fixed euphoria.

 

EM FX continues its slide...

 

In other news, the Baltic Dry Index has now plunged 51% from its late December highs and has collapsed to 5-month lows...

 

Charts: Bloomberg

 

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Wed, 01/29/2014 - 21:51 | 4382767 HedgeAccordingly
HedgeAccordingly's picture

Well well well. SPooz melts up 6 handles then gets smoked into lows following CHina PMI miss.. 

Wed, 01/29/2014 - 21:53 | 4382776 Gankfest
Gankfest's picture

It's shitty everywhere... Welcome to Earth!

Wed, 01/29/2014 - 22:24 | 4382853 DoChenRollingBearing
DoChenRollingBearing's picture

The economy is even bad here in Costa Rica, but at least there is no snow.

I'm glad that I was not in the US the past few days.  Pretty ugly sounds like.

Stay safe!  Caution!  Gold!

Wed, 01/29/2014 - 22:41 | 4382890 Harbanger
Harbanger's picture

Of course it's bad and guess what, it's gonna get worse.  I still keep in touch with some friends who moved to costa rica after they retired.  They have the check mailed directly to them.   They're Livin the good life while they can....haha!  Who's better than you I tell 'em.

Wed, 01/29/2014 - 23:31 | 4382970 TruthInSunshine
TruthInSunshine's picture

I'm not saying "I told you so," since my opinion about the real health (or sickness, to be more precise) of China's economy is necessarily a derivative function of the well-reasoned hypotheses of a select few, credible (IMO) individuals who influence my thoughts, but I find it hard to believe that even semi-cogent macroeconomic analysts don't now deem the economic crisis in China as a severe, structurally rooted one - and not some form of cyclical affair that will respond well to more intelligent monetary policy.

I'll go further & state that Asian Contagion is now a severely virulent strain of economic influenza that is most likely to drag the global economy into the next episode of crisis.

p.s. - Anyone who believes that the actual Chinese PMI isn't far worse than the "official" print, just as is the case with so many such official economic numbers/stats in the west, or Japan, or wherever else, is hopelessly naive.

Wed, 01/29/2014 - 23:40 | 4383037 Harbanger
Harbanger's picture

So it's China's fault that the West is bankrupt?  Nice spin, but I don't think it makes a difference at this point.  They have the Gold, infrastructure and desire. we have blame, guilt and excuses.

Wed, 01/29/2014 - 23:48 | 4383056 TruthInSunshine
TruthInSunshine's picture

I didn't interject an iota of moral judgment in what I wrote above.

I merely reflected upon what I view as the economic reality at present, on a relative basis, along with an opinion that the structural problems inherent in the present system are likely to hasten and make the next downturn far more severe than the world or any single nation would experience in a cyclical downturn.

Thu, 01/30/2014 - 00:30 | 4383158 Harbanger
Harbanger's picture

I think they're planning long term, beyond any financial crash and into the next economic phase.  The west is already past any standard cyclical downturn, any singular unexpected event could cause a collapse in our banking system.  China is different in many ways, it's a net producer/exporter and doesn't have the same level of unfunded liabilities and debt as the west.   But they have the same tools at their disposal as the western banks/govs.  If they chose to, they could tax producers and put their entire population on foodstamps/welfare to ride out a crisis and still be in the black.

Thu, 01/30/2014 - 04:26 | 4383375 Augustus
Augustus's picture

Is there a real difference in loans to the various SOEs which will never pay it back or in just giving it away as is done in the US?  Both are financed by unpayable debt.  While the Chinese worker does have to do something, the benefits of the losses are used to subsidize the export sales.  Both methods are unsustainable, it just takes different analysis to determine when or how soon there will be a reckoning.

Thu, 01/30/2014 - 06:07 | 4383422 new game
new game's picture

kinda simple-the best customer is tightening its' belt.

Wed, 01/29/2014 - 21:55 | 4382784 Leveraged Algorithm
Leveraged Algorithm's picture

It's different this time. It is worse.

Thu, 01/30/2014 - 02:32 | 4383310 disabledvet
disabledvet's picture

that's what the bond market says to me. "QE works until it doesn't."

to the Fed's credit (and yes I know this goes over like a lead balloon) "they changed"(taper.)

No one who believes that there is an inflation problem can believe taper is a bad thing.

Wed, 01/29/2014 - 22:01 | 4382800 The Vineyard
The Vineyard's picture

Manufacturing is dying in China?  Looks like we're all screwed with a capital S.  There's only one thing left to do.  Run to the hills.

Wed, 01/29/2014 - 22:29 | 4382867 roadhazard
roadhazard's picture

Stay the fuck away from my hill.

peace out

Wed, 01/29/2014 - 21:54 | 4382785 fonzannoon
fonzannoon's picture

Facefart will carry a bounce tomorrow. Friday will be ugly.

Wed, 01/29/2014 - 22:33 | 4382878 Dr. Engali
Dr. Engali's picture

Hopefully it takes twitter down with it. If this thing falls apart I'm going to need all the free meals I can get.

Wed, 01/29/2014 - 22:40 | 4382886 fonzannoon
fonzannoon's picture

i'm not sayin peep. i saw kito spike the ball on the 2 yard line. I saw they told all those people in the south in the ice storm to tweet for police. thats gotta be bullish.

Wed, 01/29/2014 - 23:53 | 4383075 TheMeatTrapper
TheMeatTrapper's picture

I saw they told all those people in the south in the ice storm to tweet for police. 

Living through it right now. 

It's been a fascinating experience. As a prepper, this has been a two day vacation from work, with some rare snow on the ground. A time for hiking through the snow woods in absolute silence. A really nice time. 

For most, it's been an unmitigated disaster. 

In my little city alone, we had 4500 kids spend the night in their classrooms because the roads were impassable. Thousands of cars wrecked. People spending the night in their cars on the side of the road. 

What has been fascinating is to watch the liberals, the yuppies and the minorities be utterly helpless and totally dependent upon others. They have been completely incapable of walking home, staying warm - anything. 

The 25-55 year old white deer hunters have saved their asses. The deer hunters put on their hunting clothes, their rubber boots and got on their 4 wheelers. They rode up and down the roads reuniting mothers with kids and ferrying people home. 

In every neighborhood the older men stood at the subdivision entrances and passed on information, helped people get unstuck, and handed out free coffee and soup to people attempting to walk home. The old Southern ways are still here - but they are aging - fast.

I spent the morning at the entrance to the local elementary school helping dig out stuck vehicles of parents desperate to get to their kids. 

The school teachers and lunchroom workers have done a great job. They are just now winding down after more than 48 hours on the job. Neighbors hand carried blankets, pillows, sleeping bags and toys to the schools for the stranded kids. 

The cops commandeered school buses and cruised the interstates rescuing stranded motorists and took them to shelters. Each school bus drove behind a sand truck to avoid getting stuck. 

The SWAT teams, MRAPS, drones and FLIR weren't so useful. Four wheelers were. 

We pulled urban blacks driving shiny new Mercedes out of the ditches. The Mexicans in beat up pickup trucks slid down icy roads happily bouncing off cars as they bounced their way along; not giving a shit about who they hit. 

My wife made it to the school to extract our son, and she signed out every child in the neighborhood as well. That's the only reason those kids aren't sleeping on the floor of their clasroom tonight. 

We've fed them, given them fresh clothes and showers. One of the kids is a little black kid. His mother was trying to make her way home and had to abandon her car a few miles from my house. She walked the rest of the way and slipped and broke her arm. When my wife put a plate of muffins on the table for breakfast this morning her kid grabbed the plate and started shoving muffins in his mouth whole. It was fascinating to watch. No concept of table manners, saying a blessing before eating - nothing. 

Our society is divided. It is divided between that ever dimishing segment that can not only take care of themselves, but take care of others - and that segment that is totally dependendent upon others to care for them. 

They outnumber us greatly. 

I'm enjoying a nice oatmeal stout. It's good to be prepared. 

Wed, 01/29/2014 - 23:58 | 4383094 Obama_4_Dictator
Obama_4_Dictator's picture

Personally speaking - you sound like a bitter, white, racist, ole man, who is rich - you better share.  I think we should redistrubute your supplies to the needy since you cleary hoard things. Shame on you.

Thu, 01/30/2014 - 00:59 | 4383163 TheMeatTrapper
TheMeatTrapper's picture

you sound like a bitter, white, racist, ole man, who is rich..

You had me until the rich part. :) 

 

Edit: For all those who downvoted him - he was being sarcastic. 

Thu, 01/30/2014 - 02:36 | 4383317 disabledvet
disabledvet's picture

"the words that come out of our mouth only emanate as a dialogue between us and nature."

May God only hear out curses at the human race...and ourselves.

Thu, 01/30/2014 - 05:54 | 4383414 new game
new game's picture

exactly what i would do: go to the woods with my .22 and see if a bushy tails was out...

the rest can have a nice day-i would not even tune in to hear the spin of heart felt lib-tard b.s.

i already saw the future-boston bomber and katrina. go to the woods, only bring the 308.

will i be stiffin, i mean stuffin muffins, well that depends:)

Thu, 01/30/2014 - 14:55 | 4384772 Obama_4_Dictator
Obama_4_Dictator's picture

Very true - sarcastic. I thought it would be obvious

Thu, 01/30/2014 - 04:27 | 4383374 Offthebeach
Offthebeach's picture

Definite American Kulak. Uncle Obama will show him

Thu, 01/30/2014 - 00:01 | 4383106 DoChenRollingBearing
DoChenRollingBearing's picture

Plus one for fascinating story.  Those who pull the wagon, those who ride...

Thu, 01/30/2014 - 00:37 | 4383153 NoDebt
NoDebt's picture

That was a good read and a good first-person account.  Thanks for posting.  And.....

"The Mexicans in beat up pickup trucks slid down icy roads happily bouncing off cars as they bounced their way along; not giving a shit about who they hit. "

I don't care who you are, that's some funny shit right there!  I know EXACTLY what you're talkign about.  Mexicans get a bad rap (some of it deserved), but those sonsofbitches SHOW THE FUCK UP FOR PAYING WORK!  I used to hire them off the street corner when I ran my landscaping company a zillion years ago.  I was young, strong and motivated.  They could still work my ass into the ground on any average work day.  Sun-up to sun-down, pay in cash and they were ON IT.  If some rich kid's toy got a little dinged-up in the process, well, shit happens.  

Thu, 01/30/2014 - 01:03 | 4383194 TheMeatTrapper
TheMeatTrapper's picture

Here's a few pics from near my house:

 

Pic 1

 

Pic 2

Rednecks and snow don't mix. :)

In the second pic, notice the camo clad guys on the 4 wheeler in the background.

Thu, 01/30/2014 - 04:41 | 4383381 Augustus
Augustus's picture

That looks to be about $500,000 in insurance losses, economic stimulus for Asian auto companies.

Thu, 01/30/2014 - 05:59 | 4383416 new game
new game's picture

lol from minnesnowta. looks like insurance rates are going up a bit...

Thu, 01/30/2014 - 00:41 | 4383182 IridiumRebel
IridiumRebel's picture

I'm unable to give you a green for whatever reason so +1. This has happened before. It's like the ability to vote on your post is disabled. Strange.

Thu, 01/30/2014 - 00:59 | 4383222 Dr. Engali
Dr. Engali's picture

You can't give him a greenie because he started with italics.

Thu, 01/30/2014 - 01:09 | 4383235 Dapper Dan
Dapper Dan's picture

don't start a post in italics,  no vote possible.

See?

 

(sorry man,  didn't see your post, I'm in some sort of weird time zone)

Thu, 01/30/2014 - 01:06 | 4383238 Dr. Engali
Dr. Engali's picture

It's funny you tell that story. I was just telling my kids about a similar story about when I was younger traveling through South Carolina and it snowed. At the time I lived in Cleveland and didn't think anything of, but I've never seen more car wrecks in my lifetime. I was amazed at how what I considered to be nothing paralyzed a whole state.

Thu, 01/30/2014 - 01:18 | 4383251 TheMeatTrapper
TheMeatTrapper's picture

I was amazed at how what I considered to be nothing paralyzed a whole state.

Yep. On Twitter it is being called #Snowpocalypse. 2" of snow and some ice. 

People got stranded on I-20 near Leeds, AL. Some walked off the interstate to the local Bass Pro store, pulled out a credit card and bought $5,000 4 wheelers and rode them home. 

Amazing shit really.

It's getting serious here, though. I'm on my last Good People Oatmeal Coffee Stout. After that I'm down to Monkeynaught IPA. 

Thu, 01/30/2014 - 02:42 | 4383323 disabledvet
disabledvet's picture

I've been in an ice storm in Atalanta. The worst driving experience ever (and I live in the stuff.) Absolutely PURE ice. You could turn the steering wheel 100% left or right...did nothing.

Especially on the overpasses.

We literally "ice skated" through cars bouncing off bridge abutments. Somehow we got through the "ping pong game" without a scratch...and laughed out loud about it all the to our destination.

Wed, 01/29/2014 - 22:00 | 4382795 Dr. Engali
Dr. Engali's picture

The Bernank is laughing his ass off. He gives the world a a five year party and then takes his punch bowl and goes home. A shit ton of damage can be done before the next fed meeting. Good timing with the MyRas.

Wed, 01/29/2014 - 22:01 | 4382802 fonzannoon
fonzannoon's picture

I've been considering that too. It seems like it's possible he wants the 10% dip and feels Kevin can handle it. Should be interesting.

Wed, 01/29/2014 - 22:05 | 4382814 Dr. Engali
Dr. Engali's picture

Seems to me like it would be pretty risky. Everybody is on edge as it is. Add to that fact all the leverage in the system, and things can cascade fairly quick.

Wed, 01/29/2014 - 23:07 | 4382947 NoDebt
NoDebt's picture

"Good timing with the MyRas."

Was thinking the same thing.  What better way to kick it off that to scare the crap out of everyone again and send them into the loving embrace of their trustworthy (guaranteed, full faith and credit) government?

Doesn't matter.  This is all small ball we're talking about.  The global economy IS slowing down.  Never seen such a disconnect between the talking heads and what the cold hard facts are telling me (at least not since the .com bubble).  Lie about the numbers all they want, a slowing economy, especially global trade-related, IS going to be a problem for debt-laden, highly leveraged companies (whose stock price is supported by debt-laden, heavily leveraged investors), even those with plenty of cash on hand.

Nothing to do now but wait for Yellen to show her true, unrequieted feelings for Wall St. and crank the presses back up.

Thu, 01/30/2014 - 01:02 | 4383227 Handful of Dust
Handful of Dust's picture

I don't know about the global stuff but my neighborhood mega mall is experiencing more vacant store fronts.  I stopped by the mall office and mentioned they might want to put ads or something lively in those empty store windows instead of those black curtains...

Also, retailers are biting the dust left and right esp some of the online small businesses. Orders down, revenues down and profits extremely slim especially now with another postal rate increase of a whopping 5%. The ripple effect is enormous from what I see. My friend went under and his entire family had to cut back on all spending...and I don't mean iCrap, I mean food, heating, etc. He, like millions of others bought into the 'recovery' and the fiction that 'house prices never drop' and and paid way too much for his McBox.  Unless you want to go on the Gubmint dole, the best advice is to have lots of skills as well as have a deep security blanket stashed away and very diversified imo.

Thu, 01/30/2014 - 06:03 | 4383421 new game
new game's picture

if you look closely, you will see the cracks. all an illusion to hold er togerther for a while.

as long as everone worships the dolla for another day - all good...

but, something out of the blue yonder will start the cascade of dolla debt demise-it has all been written.

Wed, 01/29/2014 - 22:23 | 4382850 booboo
booboo's picture

Obongo's financial wizard believes they that they can turn a bastardized bunch of mutts called Americans into Japanese and hold all our debt internally in the hands of it's obedient masses........... Bwaaaaaahahahahaha, they are selling and no one has a spare dime to buy a bond if they wanted to, and that "first time saver" horse shit was just an envy play so the middle class can sit up and say, "WTF??, uh, I want some of those too" stupid mother fuckers.

Wed, 01/29/2014 - 22:51 | 4382915 20834A
20834A's picture

Could the MyRAs be way to unwind the FED's T-Bills?

Thu, 01/30/2014 - 02:57 | 4383331 disabledvet
disabledvet's picture

I just think the whole thing is stupid. Jack Lew went running to China even though the only asset they had/still have are massive quatities of treasuies.

They've already spent all those dolares on massive public works products.

You want to teach "savings" by saying "buy zero coupon bonds"?
This is the most ridiculous thing I've ever heard of in my life.

Wed, 01/29/2014 - 21:59 | 4382796 Cognitive Dissonance
Cognitive Dissonance's picture

Who knew the entire nation of China was swimming naked when the tide went out?

<Warren....you left your swim trucks in Shanghai.>

Wed, 01/29/2014 - 22:02 | 4382804 q99x2
q99x2's picture

I better plan on being stuck in Pittsburgh if the SHTF on Super Bowl Sunday.

Sell your house. Stock up on Hormel Chili and peanut butter.. The end is near.

Long live me.

Wed, 01/29/2014 - 22:08 | 4382819 Dr. Engali
Dr. Engali's picture

In the tweets of Matt Drudge..... "Have an exit plan".

Wed, 01/29/2014 - 22:16 | 4382832 surf0766
surf0766's picture

What does he know and when did he know it?

Wed, 01/29/2014 - 22:12 | 4382827 FieldingMellish
FieldingMellish's picture

Oh yeah... and gold and silver are getting smacked...

Thu, 01/30/2014 - 00:32 | 4383160 Troll Magnet
Troll Magnet's picture

GOOD! I was wondering why they weee holding steady despite the tapering. I hope they drop like hell in the morning. My truck's empty and I'm ready to back it up.

Thu, 01/30/2014 - 02:53 | 4383329 disabledvet
disabledvet's picture

still not enough fiat to support the price.

not saying "don't back up the truck" just saying.
very interesting to hear out backdoor bailouts of health insurance companies with the ACA.

this is all the while while insurance premiums are going through the roof.

The whole thing is totally criminal.
again "the taxpayer is the criminal of 2008"?
I don't think so.
And now higher prices, higher taxes AND no actual benefit?

Man am I glad I served my country.
At least I have access to a doctor...let alone a health system.

Who even uses the term "veteran" anymore?

Wed, 01/29/2014 - 22:15 | 4382829 SillySalesmanQu...
SillySalesmanQuestion's picture

Any one feel confident enough to start shorting again? :)

Wed, 01/29/2014 - 23:21 | 4382991 JohnnyBlaze
JohnnyBlaze's picture

Can't decide between FAZ and UVXY.  But I am going to buy some puts tomorrow and with any luck I can loose all my fiat. 

Wed, 01/29/2014 - 22:18 | 4382839 TheCosmicTaco
TheCosmicTaco's picture

China is going down. There are only so many plastic toy water pistols the world can buy. The limit has been reached. The glorious middle kingdom has peaked. Suck on that, Minnie Mao.

Wed, 01/29/2014 - 22:53 | 4382904 Pure Evil
Pure Evil's picture

Last I saw they were building a shiite load of brand new Dollar Stores and Dollar Generals just to hold all the excess inventory.

Wed, 01/29/2014 - 22:20 | 4382841 bubblemania
bubblemania's picture

Bullish!

Wed, 01/29/2014 - 22:21 | 4382843 starman
starman's picture

God or who ever save us all! No hockey stick no ramp can save this shit circus! The show is over.

Wed, 01/29/2014 - 22:21 | 4382844 The Shootist
The Shootist's picture

Silry Japanese, we taper rong time

Wed, 01/29/2014 - 22:20 | 4382846 stant
stant's picture

deflation means everything goes down but hard cold in your hand cash

Thu, 01/30/2014 - 00:04 | 4383111 DoChenRollingBearing
DoChenRollingBearing's picture

Good advice.  Since no one can predict the future, having CA$H on hand is a good idea.  Diversification...

Wed, 01/29/2014 - 22:24 | 4382848 bonzo112358
bonzo112358's picture

On a side note from last night on zerohedge (no thanks to sotu), anyone else here notice ticker symbol myra up 900% today?  You can't make this shit up!!!

http://finance.yahoo.com/q?s=myra

Wed, 01/29/2014 - 22:22 | 4382849 AdvancingTime
AdvancingTime's picture

Fast growth tends to mask flaws and weakness within a system, and China has been growing like a weed for years. To make things worse many of the investment decisions were driven by politics. This has created massive overcapacity. Money has been poorly allocated and often shoveled into deep holes like ghost cities and bridges to nowhere.

Currently a 6.6 trillion dollar spending spree used as stimulus to combat global economic slowdown is coming back to haunt China. This has greatly expanded credit and created huge overcapacity during the past five years. A massive debt crisis now looms in the offing as companies struggle to repay loans taken to build factories that now sit idle because of weak demand. More on the woes China is facing in the post below,

http://brucewilds.blogspot.com/2013/11/china-land-of-overcapacity-and-de...

Wed, 01/29/2014 - 22:23 | 4382851 Julian
Julian's picture

there a lot of margin calls to be made..

Wed, 01/29/2014 - 22:26 | 4382854 BudFox2012
BudFox2012's picture

.
.
.
Feeling pretty smug right now that things are unfolding just as I thought they would.
- Me, 2 minutes ago

Feeling pretty terrified right now that things are unfolding just as I thought they would.
- Me, 1 minute ago

Thu, 01/30/2014 - 01:52 | 4383286 Legolas
Legolas's picture

 

 

^

|

|___  What he said ....

Wed, 01/29/2014 - 22:28 | 4382856 Spungo
Spungo's picture

"Any one feel confident enough to start shorting again?"

Instead of shorting, you can buy the vix. Volatility should rise even if the upward trend continues. I threw down $2000 on the vix because I think that shit will go to the moon in a short period of time. I have a stop loss placed above what I paid, so there's really no down side to this bet. Either I win or I break even.

Wed, 01/29/2014 - 22:48 | 4382908 SillySalesmanQu...
SillySalesmanQuestion's picture

But I vant to short Apple. I vant to make Uncle Carl feel ze pain.... vecause I Cahn.

Wed, 01/29/2014 - 22:28 | 4382857 papa_lazarou
papa_lazarou's picture

this is just a saga now

Wed, 01/29/2014 - 22:28 | 4382858 FieldingMellish
FieldingMellish's picture

Time for an invigorating conflict somewhere, yes? 

Wed, 01/29/2014 - 22:32 | 4382874 fonzannoon
fonzannoon's picture

don't u go bailing on our 2,500 spy call. 

Wed, 01/29/2014 - 22:40 | 4382888 FieldingMellish
FieldingMellish's picture

Just wait until the missiles start flying. Nothing like death and destruction to help move stawks North.

Wed, 01/29/2014 - 22:41 | 4382893 stant
stant's picture

just might be that now theres no $ to be made in freeing the shit out of someone.

Wed, 01/29/2014 - 22:33 | 4382873 Dr. Engali
Dr. Engali's picture

It's funny we get the MyRas at the same time the fed pulls the punch bowl. Coincidence?..... I think not.

Wed, 01/29/2014 - 22:52 | 4382918 chump666
chump666's picture

Beginning of the Asia crisis redux.  Cept outflows will be capped with capital controls right across the EM.  Now commie America will have to work out who supports what.  Can the Fed and Obama still lift the whole American ecomomy while it's creditors go bust?   That is the mortal question

Wed, 01/29/2014 - 22:54 | 4382921 stateside
stateside's picture

I thought all Chinese data coming from the Chinese govt was fabricated?  That's what we've heard for the last few years. Now, since it fits an agenda, its gospel?  Interesting isn't it?

 

Stateside

Wed, 01/29/2014 - 22:57 | 4382926 chump666
chump666's picture

Japan:

http://www.marketwatch.com/story/japan-auto-group-sees-demand-down-98-th...

Nasty, awaiting Abe's saving/war bond plan..just like Obama.

Popcorn and Vodka...

Wed, 01/29/2014 - 22:59 | 4382930 chump666
chump666's picture

Any one trading the AUD, I'm seeing low 86

Wed, 01/29/2014 - 23:08 | 4382938 TheRideNeverEnds
TheRideNeverEnds's picture

Im waiting on a fill @ 87; bastards leaning all over my order.  

 

 

Wed, 01/29/2014 - 23:52 | 4383078 chump666
chump666's picture

buyers on the 87 trading within the 5da EMA.  Very much the machines.  Cracks the 87, then you'll have a liquidation.  Whole market is trading off poor EM data now.

Thu, 01/30/2014 - 00:15 | 4383133 Wait What
Wait What's picture

<---- Fed untapers & risks blowing up the TSY

<---- Fed says 'f--k it! this sh-t's not working! what do we have left in th armory?'

 

or even more likely, 1) Fed sez "they have monetary policy, too!" f--king a--holes!

Thu, 01/30/2014 - 00:41 | 4383183 Handful of Dust
Handful of Dust's picture
Barclays to Cut Up to 400 Jobs in Its Investment Bank to Trim Costs

 

http://dealbook.nytimes.com/2014/01/29/barclays-to-cut-up-to-400-jobs-in...

Thu, 01/30/2014 - 03:04 | 4383335 Schmuck Raker
Schmuck Raker's picture

YU No BDIY?

Thu, 01/30/2014 - 06:44 | 4383437 kenezen
kenezen's picture

China: Production slowing. Japan: Production slowing and devaluing the Yen against the dollar to give help to exports. Consumption globally from MFG down. Goods down. Hello S&P.

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