China

China

Chinese Satellite Data Hint At Ominous Manufacturing Slowdown

Chinese factory activity contracted last month for the first time in nearly a year when the Caixin PMI dipped below 50, the threshold for growth. And now, early indicators for the month of June – including one satellite-based measure - suggest that there’s more pain ahead for the manufacturing sector in the world’s second-largest economy.

TDB's picture

I’m only half kidding about the cultural differences. In Australia, they eat kangaroos, in Iceland, they eat horses, and all over rabbits are regularly consumed. Is America’s culture so superior that we know for certain we have found the right combination of animals to slaughter for meat? Or is culture an appropriate issue to legislate, enshrining the “American way of life” into law?

Trump "Increasingly Frustrated With China" Over North Korea, Trade: Reuters

Two weeks after Trump's ominous "China "tried and failed" to contain North Korea tweet, the US president appears to be getting closer to that default condition in US-China relations which many had anticipated from day one: a not particularly cooperative one, and as a result Reuters reports that Trump is "increasingly frustrated" with China over both North Korea and trade differences.

Hong Kong Small Caps Crash Amid Marketwide Margin Call: "It's A Domino Effect"

"We’re seeing a domino effect; all the companies in the same network got cut.  These shares are owned by the same group of people so they must be experiencing a liquidity crunch and they don’t have the money to support the share prices. Obviously there’s been some margin calls and forced liquidation of shares among these companies." 

Frontrunning: June 27

  • Stocks, dollar ease as central bank officials take center stage (Reuters)
  • Euro surges on Draghi comments, dollar slips (Reuters)
  • Yuan Surges in Afternoon Trade Amid Talk PBOC Supported Currency (BBG)
  • U.S. threatens Syria, says Assad is planning chemical weapons attack (Reuters)
  • Google Gets Record $2.7 Billion EU Fine for Skewing Searches (BBG)

How The Fed Helps The US Spy On Foreign Governments

It's widely known that the Federal Reserve has been tasked by Congress with a "dual mandate" to maintain maintain stable consumer-goods prices, low unemployment and - oh yeah - buoyant equity prices.  However, as Reuters revealed on Monday, the central bank has another legally binding obligation that might upset some of its clients: Helping US intelligence agencies spy on foreign governments.