Archive for August, 2011
File not found. Hong Kong: Monetary Statistics For July 2011
Various measures of money supply rose slightly in July, the latest monetary statistics by Hong Kong Monetary Statistics show.
Greek Tragedy: Is This A Joke?
The EFSF is floating the idea that maybe Greek bank shares can be used as collateral for the bailout.
China, Financials. 31 August, 2011, 15:16
Social Security Fund Of China Is Still Selling Chinese Banks
Since March this year, the Social Security Fund has probably sold HK$10 billion worth of shares of ICBC on top of their disposal of Bank of China.
Economy, United States. 31 August, 2011, 2:31
FOMC Minutes For August 2011: What To Do Next?
A number of options were being discussed, ranging from outright quantitative easing to doing nothing. Focus will be on next meeting.
Real Estate, World. 30 August, 2011, 21:39
United States: S&P/Case-Shiller Indices Show Signs Of Stabilisation
The US housing continues to show some signs of stabilisation amid seasonal strength. The National Index rose by 3.6% in the second quarter.
China, Financials. 30 August, 2011, 16:06
Overdue Loans In Chinese Banks Increase
Out of 14 banks reported their 1st half result, overdue loans increased in 11 of them. One bank confirms that overdue loans concentrate in real estate sector.
Economy, United States. 30 August, 2011, 1:23
ECRI: Not Quite A Recession Yet, But No Rebound Either
Lakshman Achuthan of ECRI thinks that the economic weaknesses in the US will persist, but has not gone to a point where he can definitely call a recession.
People’s Bank Of China To Broaden Deposit Base For Reserve Requirement
The move to include margin deposits into the base for reserve requirement is dramatic, but expect policy makers to be more cautious about future tightening.
Financials, World. 29 August, 2011, 21:58
Bank Of America Is Selling 13.1 Billion Shares Of CCB For US$8.3 Billion
Bank of America is selling 5% stake of China Construction Bank at about HK$4.94 per share, raising US$8.3 billion cash and will add US$3.5 billion tier I capital
Markets, Rates and Bonds. 29 August, 2011, 17:10
Something Funny In Credit Markets…
Jeffrey Gundland thinks something funny is happening in the bond market. CDSs and spreads, of course, are rising lately…
China, Real Estate. 29 August, 2011, 15:48
China Real Estate: Something Which Caught My Attention
Despite apparent resilience, some new homes are sold at lower prices than old flats. Meanwhile, Greentown lost almost half of its cash in 6 months.
European Debt Crisis: Between Solving and Not Solving It
The European debt crisis has never been fully solved. Slow economic growth and political uncertainties will come back to haunt us from time to time.
Commodities, Markets. 25 August, 2011, 0:33
Bubbly Gold: An Alternative Hypothesis?
Gold and Chinese Yuan have been bizarrely moving in same directions for many years, both in terms of US dollar. An alternative hypothesis might be needed.
Interest Rates For Underground Credit In Wenzhou Surge
Underground credit surges to record in Wenzhou, and the interest rates on the borrowing surged to a record 24.4% per annum.
Financials, World. 24 August, 2011, 12:29
The Interbank Markets Are Malfunctioning (Again)
Here is a very brief explanation on the kind of problems we are seeing in the European banking system, and on USD funding of European banks.
China, Real Estate. 24 August, 2011, 1:40
Chinese Real Estate Developers Inventories Rise, Profits Mixed
Listed Chinese real estate developers inventories rose. The profit picture is somewhat mixed: those with 2nd/3rd tier cities exposure did worse.
Economy, United States. 23 August, 2011, 12:54
(Mis)-Managing Expectation: Jackson Hole Edition
Ben Bernanke will be speaking on Friday. While the market is hoping/praying/begging for more quantitative easing, the market might be disappointed.
Ageing And Asset Prices: US Equities Mega-Bear Edition
A research by economists at San Francisco Fed suggests that demographic trend of the US would be rather bearish of US equities.
Hong Kong, Real Estate. 23 August, 2011, 0:36
Hong Kong Property: Rents And GDP Growth
Rental growth tracks with nominal GDP growth. If the economy is headed for a recession in the coming quarters, rental growth will stall.
Hong Kong: Inflation Further Accelerates To 7.9% In July
The headline inflation of Hong Kong rose to 7.9% yoy due to low-base effect. On a month-on-month basis, however, there is no inflation whatsoever.