"I don’t think this is sustainable. I personally think that after Golden Week in China [Oct. 1-7], things will slow down. You might see a small spike right after Golden Week."
Robert Lighthizer, Steven Mnuchin and Chinese Vice Premier Liu He had been expected to meet via videoconference on Aug. 15, the six-month anniversary of agreement entering into force. That has been delayed indefinitely.
Name the economic theory and it will have been proved wrong - yet that lack of substance doesn’t stop it being taught or given as policy advice to politicians.
Investors are treating an ever growing number of traditionally risky assets as low risk, or even hedges against risk... lulling politicians and central bankers into believing that the market cycle has been conquered... it hasn't!
"It is important to understand how the existing provisions of the Federal Reserve Act with regard to currency issuance apply to a CBDC and whether a CBDC would have legal tender status, depending on the design."
Using its debit and credit card data, BofA forecasts retail sales ex-auto to increase by just 0.3% mom, which would be a material miss to consensus expectations of a 1.3% increase.
"I would recommend building the best portfolio you can with China bonds, because the rates are higher, and whatever collection of Chinese stocks you can put together to best reflect what that economy is like, including some national and local brands."
Senior editor, Ash Bennington, joins managing editor, Ed Harrison, to discuss secular stagnation, initial jobless claims, and the fiscal cliff. They begin by…
