China

China

The Great Shadow Unwind: Chinese Entrusted Loans Post First Decline In 10 Years

What was the most notable revelation in the overnight Chinese loan data was the "entrusted loans" category, (the broadest proxy for ‘shadow financing’) which confirmed China's recent crackdown on shadow banking, and posted the first contraction in a decade, going all the way back to 2007. 

Goldman Spots An Odd Divergence In Energy

"To put things in context, HY Energy credits have returned 2.3% year to date vs. 3.3% for the broader HY index, while Energy equities are down 9.6% vs. a positive price return of 6.8% for the S&P 500."

Frontrunning: May 12

  • World stocks ease off record highs, Fed rate hopes boost dollar (Reuters)
  • Trump Escalates FBI Fight With Comey Attack. The FBI Fights Back (BBG)
  • Trump attacks on fired FBI chief meet resistance (Reuters)
  • China Stocks Are Tumbling Again. This Time, the World Doesn’t Care (BBG)
  • Yuan Becomes Oasis of Calm in China’s Volatile Markets (WSJ)

About That "Underwhelming" US-China Trade Deal: Much Less Than Meets The Eye

Overnight, the US Department of Treasury released the initial result of the 100-day Sino-China trade and economic negotiations, a month after the presidential summit at Mar-a-Lago in early April. There were no surprises in the disclosures which was dubbed "underwhelming" and "mostly aspirational."

Markets All Too Quiet Ahead Of Inflation, Retail Sales Data

Asian stocks and S&P futures are both feeling the weather this morning, while European stocks are little changed as traders have decided to hold back until today's key US CPI and retail sales data is released in under two hours.

"Apocalypse Now": The Horror Of The Deep State's Plan Exposed - Part 3

Decades of propaganda, false flags, and misinformation campaigns have enabled the Deep State to gain power and control over the U.S. government. When war or a financial crisis is necessary to keep the profits flowing, events will be steered to such an outcome. With the latest financial plundering operation running out of steam, the Deep State is once again pushing the world toward global conflict.

Is A Chinese Recession Imminent? Yield Curve Inverts For First Time Ever

While China growth has been slowing, and monetary conditions tightening, few (if any) have predicted any prolonged deflation (let alone a recession), yet overnight - for the first time ever - the $1.7 trillion Chinese bond market inverted, flashing a warning signal to the world that something is wrong.

Can Times Get Better In America Without A Major Crisis?

"The U.S. is past the point of no return. Even though the system is stained with blood, it will not and it cannot self-correct. And certainly it will not through the political process, which only rearranges the deck chairs. It will have to totally collapse."