China

China

Global Bond Rout Sends S&P Futures, European Stocks Sliding

S&P futures are sliding this morning, down 0.4% and tracking the accelerating decline in European and Asian stocks, driven by a move higher in global interest rates, which started with Japanese 10Y yields rising to 0.1% for the first time since February, but mostly Bund yields which spiked after tripping stops, and jumped as high as 0.53% for the first time since early 2016.

The Twilight Of Unipolar American Power

"... the days of the United States dominating the world in an arrogant, absolutist, heavy-handed fashion and dictating to other nations what they can and cannot do are over and the United States must come to realise this and make the required if painful adjustment."

Haley: US Will Use Military In North Korea "If It Must"

The war drums are beating louder, and as US Ambassador to the UN Nicky Haley said moments ago as she speaks live (webcast), the North Korea launch is clear, sharp military escalation and the US will use the full range of its capabilities in North Korea including military force, "if it must."

The Global Oil Demand Driver That Is Being Ignored

One of the hottest debates today is over the prospect of peak oil demand: whether or not electric vehicles along with general trends towards more fuel efficiency will ultimately lead to a peak and decline of total oil demand worldwide. But the conversation often overlooks the role that heavy trucks and freight play in driving demand.

Frontrunning: July 5

  • U.S. Warns North Korea It’s Ready for War Over Missiles (WSJ)
  • U.S., South Korea stage show of force against North Korea (Reuters)
  • UN to Meet on North Korea as U.S. Confirms Rocket Was ICBM (BBG)
  • Trump talks tough, options limited (Reuters)
  • North Korea, Putin Meeting Top Agenda For Trump’s Tripa (WSJ)

Global Stocks Rebound From Korea Jitters; S&P Flat As Fed Minutes Await; Oil Slides

S&P futures were little changed at 2,425, ignoring the N.Korea tensions of the past two days which will likely be a major topic in the upcoming G-20 summit, as European stocks fluctuate and Asian markets advance. Crude oil fell, snapping the longest winning streak this year, as Russia said it opposed any proposal to deepen OPEC-led production cuts.

Chinese Manufacturers Are Scrambling To Replace Workers With Robots As Wages Soar

Tepid wage growth has been frustrating Americans for years. But if trends in China’s manufacturing sector have any bearing on the US, there’s an upside to stagnant pay: Workers get to keep their jobs – for now, at least. In China – where real wages have doubled in the past decade – the opposite is true.