August Personal Consumption Expenditures (PCE) inflation rose to 4.3% y-o-y, the largest gain in 30 years. The S&P CoreLogic National Composite Home Price [...]
It was a rather glaring warning. Yet it was, of course, taken as just another buying opportunity – a rather easy one at that. It seems to only get easier. [...]
Evergrande owes over $300 billion – to banks and non-bank financial institutions, domestic and international bond holders, suppliers and apartment buyers. It [...]
The Wall Street Journal ran with the headline “What if China’s Property Crackdown Goes Overboard Too?” for its Tuesday’s “Heard of the Street” [...]
China’s historic Bubble has been integral to CBB analysis for two decades. I’ve on a weekly basis chronicled how interconnected Chinese and the U.S. [...]
August 27, 2021: Bloomberg Wall Street Week’s David Westin: “Larry, you saw, you read what Jay Powell said [in his Jackson Hole speech]. What was your [...]
Bubbles are self-reinforcing, yet inevitably unsustainable inflation. There are different types of Bubbles – Credit and speculative asset Bubbles being the [...]
We shouldn’t read too much into one month of weak Chinese Credit data. July’s growth in Aggregate Financing (system Credit) slumped to $164 billion, [...]
The U.S. economy created 943,000 jobs in July. With upward revisions, there were 938,000 positions added in June and 614,000 in May – for a notable [...]
The Shanghai Composite sank 4.3% this week – and was down as much at 6.7% at intraday Wednesday lows. The Hang Seng China Financials Index was 5.7% lower [...]
July 20 – Reuters (Karen Pierog): “Risk-off sentiment that drove Monday’s sell-off on Wall Street and rally in U.S. Treasuries widened credit spreads on [...]
The week had an ominous feel. Ten-year Treasury yields dropped another seven bps to 1.29% – completely disregarding much stronger-than-expected reports [...]
