While it's a fairly quiet week for the US on the data front, the US CPI report for June should be of particular interest, while the start of Q2 US bank earnings
"... these stocks have rarely, if ever, been so over-loved and over-owned... We are downgrading our view on the US technology sector to underweight from equal-weight."
Following a blockbuster Q1 earnings season yet which saw a surprisingly muted market reaction, traders turn their attention to the second quarter earnings season which officially begins on Friday the 13th. Here's what to expect.
China is doing everything in its power "to maintain stability of capital markets and avoid a vicious circle of default and panic selling, causing markets to spiral down further." - Morgan Stanley
"The statisticians are simply peddling a myth, which leaves it wide open to abuse. The myth-makers, so long as the myths are believed, control the narrative..."
Billionaire "vulture" investor Paul Singer is set to take full control of Italy's most famous football club AC Milan after its owned, Chinese businessman Li Yonghong failed to make a payment on a loan owed to Elliott Management.
"The economy has hit a wall and is now sliding down it. I don’t care what bullish propaganda may or may not be bubbling up in the headlines from the financial media and Wall Street, the hard numbers I look at everyday show accelerating economic weakness. "
"Prepare for the deflationary consequences of this shift in the global monetary system, and expect as well as hope that it too will end as China helps the world to inflate away its debts."
... most investors are worried about the trade war, defaults, and credit crunch, with particular concerns about liquidity in the LGFV and property sectors.
