After a brief lull in the third quarter, a burst of at least 15 new Chinese defaults since the start of November have sent the year’s total to 120.4 billion yuan ($17.1 billion), and about to eclipse the 121.9 billion yuan record set in 2018.
You need a crisis that’s severe enough that both political parties can agree on stimulus. We’re not there yet, but we will be. If you thought QE was nutty, wait until you see what drunken sailor mode looks like...
"The consumer is completely levered up. He has record amounts of debt. And the only reason he can spend is because the Fed is keeping rates low enough so that credit continues to flow..."
Enron and Theranos offer stark lessons. Those were total loss outcomes, yet the allure of jumping aboard a speculative circus is as irresistible as ever, especially with interest rates at near-record lows...
Saudi Arabia, angry that the price of oil refuses to rise, is threatening to boost oil production and unilaterally flood the market if "some" OPEC nations continue to defy the group’s output curbs, cartel officials say.
"We have now reached a point where M&G believes it will best protect the interests of the Funds’ customers by applying a temporary suspension in dealing."
What’s breaking is confidence in the current Trump narrative - that’s driven stocks and bonds higher through the year - is played out. It was based around two factors...
