As Chinese financial conditions further deteriorate and market stress worsens, we actually / perversely push CLOSER to the “RISK-ASSET POSITIVE” outcome of escalated PBoC stimulus- and easing- measures.
"These five things would need to happen before I’d be willing to jump aboard the 'Russia! Russia! Russia!' train. Until then I’ll just keep pointing to the total lack of evidence and how very, very far the CIA/CNN Russia narrative is from credibility."
US Producer Prices soared at +3.4% YoY in June - far above the expectation of +3.1% - and to the highest level since Nov 2011. Energy goods and Trade services rose most MoM, but Food prices dropped 1.1% MoM.
"The societal hollowness created by those pushing the delusion of a materialistic American Dream based on an ever-growing pyramid of debt has left a society morally deadened, psychologically damaged, living lives based on deception, and willfully ignorant of the truth."