<Click on graphic for larger image> Bloomberg Business – Recession Hits China — Along With 10% Growth The long-feared Chinese hard landing has become a reality in rustbelt Liaoning. The northeastern province, ground zero in China’s multi-year slowdown, saw its economy contract 1 percent in the first half of 2016 as factories splutter and the coal… Continue reading China
<Click on graphic for larger image> MarketWatch – Banks continue making corporate, commercial real estate loans tougher to get, Fed survey shows Commercial and industrial loan standards have continued tightening for four straight quarters Loan standards to commercial and industrial firms and commercial real estate tightened for the fourth straight quarter in the three months ended… Continue reading Bank Lending
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Business Insider – A humiliating sign of just how tough things are for Deutsche Bank and Credit Suisse Credit Suisse and Deutsche Bank will be dropped from the STOXX Europe 50 index from Monday next and replaced by technology firm ASML Holding and construction company Vinci. … The Europe 50 index is designed the track Europe’s 50… Continue reading A Contrarian Buy Signal For Deutsche Bank and Credit Suisse
CNBC – Italy’s Renzi vows to win referendum seen as crucial for future of Europe Despite facing what is effectively a vote of confidence in his leadership come October when a referendum on constitutional reform is due to take place, Italian Prime Minister Matteo Renzi told CNBC that he was sure of a win. “I am… Continue reading Will Renzi Survive?
<Click on chart for larger image> Fortune – Will Falling Oil Crater the Stock Market? It’s price is reaching a critical tipping point But the signs of weakness in the oil market may not just be causing headaches for commodity traders, according to analysis by Jim Bianco of Bianco Research. He argues that the price of… Continue reading More On The Stock/Crude Relationship
<Click on graphic for larger image> Bloomberg.com – Spain 10-Year Yield Approaching 1% Shows Central Bank Supremacy Yield spread to German bunds narrowest since December Net supply this week to be ‘deeply negative’: Commerzbank For Europe’s higher-yielding bonds, a political stalemate in Spain and lingering concerns about Italian banks are proving to be no impediment… Continue reading The Spanish Bond Bull Market
<Click on chart for larger image> The Financial Times – Junk bond ETFs drop by most since Brexit Exchange-traded “junk bond” funds on Monday suffered their worst drop since the UK voted to leave the EU, as the main US oil benchmark closed in bear market territory and jitters grew over rising defaults in the energy… Continue reading High Yield ETFs
<Click on graphic for larger image> The Wall Street Journal – It’s Called Financial Repression, and Governments Around the World Are Doing It Countries are adopting policies to encourage or require savings to be lent cheaply to the government The money markets are screaming about a global shortage of dollars. Financial stress indicators are flashing… Continue reading The Monetary Drug
The Daily Mail (UK) –Merkel on the ropes Thousands of German protesters take to the streets saying she ‘Must Go’ and a key coalition ally withdraws support to open-door immigration policy after terror attacks Thousands to gather in towns and cities across Germany today at 3pm They are calling for her resignation over open door… Continue reading Trouble In Germany
Why a pencil manufacturer moved production to China: painful story explains resonance of Trump message. https://t.co/41G5qlAy72 — Greg Ip (@greg_ip) August 1, 2016 The Wall Street Journal – Trump, Trade, Technology and American Jobs The move of our company, California Cedar Products Co., to China had nothing to do with advances in technology. We are a… Continue reading Why Voters Are Angry
<Click on graphic for larger image> Bloomberg.com – Japan Fiscal Plan Gives $45 Billion Spending Boost This Year Abe seeks to prop up economy after BOJ keeps action minimal New spending this year is a fraction of Abe’s headline number Japan’s government announced 4.6 trillion yen ($45 billion) in extra spending for the current fiscal year,… Continue reading More On BoJ Stimulus