China

China

Frontrunning: June 15

  • Markets Are Sliding Again (BBG)
  • Trump’s Legal Peril Deepens as Mueller Expands Scope of Probe (BBG)
  • Trump blasts report on possible obstruction of justice probe (Reuters)
  • Putin says ex-FBI head Comey gave no proof Russia meddled in U.S. election (Reuters)
  • The Fed Is Flying Blind (BBG)

A New Chinese Threat Emerges: Net Bond Issuance Crashes Most On Record

China just suffered a record collapse in net corporate bond financing, the latest and far more "tangible" threat to China's debt-fuelled economy. In May a quarter trillion yuan in corporate bonds matured, or were repaid, or defaulted, resulting in the biggest corporate debt drain in history.

200 Democrats Sue Trump Over Alleged Emoluments Clause Violation

Following the testimonies of both former FBI Director James Comey and Attorney General Jeff Sessions, the Left's 'Russian Collusion' narrative has completely unraveled... Now, it looks as if they've centered in on a new strategy to 'Resist 45.'

Axel Merk's 'Best Bubble Indicator' Is Setting Up For "Major Shock"

"In my experience, complacency, with its cousin low volatility, is the best bubble indicator I am aware of. Perceived safety gets investors to pile into investments that they later regret. When it happens on a massive scale, major market distortions may be created that can lead to financial crises. And as the tech bubble that burst in 2000 shows, even if there is no systemic risk, the unwinding can be most painful to investors."

Multipolar World Order: The Big Picture In The Qatar-Saudi Fracture

"The American century is rapidly coming to an end. Terrorists are biting their masters’ hands and the vassals are rebelling. The unipolar world order that defers to the United States is rapidly disappearing, and the consequences are being felt in many areas of the world."

No Surprise Here – 'Reality Winner' Has Not Become The Next Edward Snowden

"...while it is easy enough to chalk the whole Reality Winner episode up to typical government incompetence, perhaps we should be asking a different question; was something far more sinister at play here, with the deep state working behind the scenes towards undermining the current administration?"

China Says "Don't Panic" As Yield Curve Inversion Deepens Amid Liquidity Collapse

The curious case of the inverted yield curve in China's $1.7 trillion bond market is worsening as an odd combination of seasonally tight funding conditions and economic pessimism create concerns among investors. However, on Sunday, the official Xinhua News Agency sought to stabilize markets expectations. “Don’t panic,” it urged investors.