Overnight, China surprised the market with its first trade deficit in more than a year amid escalating trade frictions with the United States, however there may be less than meets the eye here, at least for now.
The new PBOC Governor Yi Gang spoke at the Bo’ao Forum today on monetary policy and further opening up of the financial sector: the punchline of his speech, however, was his promise that the Chinese currency will not be used in a trade conflict.
"There are much more precise and effective weapons than nukes in the arsenal of the establishment globalists that manipulate political systems in various nations..."
Demand for mortgage refinancing has plunged to a level not seen since Lehman filed for bankruptcy, and the near-shutdown in the mortgage pipeline is wreaking havoc on bank lending revenues.
In the traditional data lull following the (disappointing) payrolls report, this week the market focus will be on US CPI and the FOMC minutes on Wednesday.
Sewing's appointment is a sign that DB intends to shift its focus back to its domestic market, and on lending to European companies over deals and trading.
... the most important risk to the business cycle in our view is the potential stress in US corporate balance sheets, particularly in the context of a further rise in real rates. Hence, we recommend that you keep your seat belts fastened.
In short, what’s a couple million dollars spent on a political campaign if it means the government will stay out of your way? Political contributions might be one of the smartest investments some workers can make for their own job security.
As Beijing flexes its naval war muscle in a South China Sea "show of force", the US is preparing for a naval drill of its own, with the Pentagon deploying an unprecedented three carrier battle groups to the region.
In a sign that Japan's crackdown on crypto firms might be coming to an end, the Financial Services Agency announced penalties against three unlicensed exchanges that will force two of them to suspend operations.
