Archive for September, 2011
File not found. Jim Chanos On China: Long Corruption, Short Property
Jim Chanos is still shorting Chinese real estate and banks, but he is long corruption, so he kind of likes Macau gaming.
Hong Kong, Real Estate. 21 September, 2011, 2:30
Hong Kong Property: Brace For Higher Interest Rates
Interest rates have been increased by more 200 basis points without the Fed tightens, just as I expected, and it looks likely to continue.
Economy. 20 September, 2011, 23:46
Ominous Sign: South Korea Is Selling US Dollar
South Korea is selling US dollar to stabilise its sliding currency. This is a ominous sign that money is flowing out of EM amid on-going market jitters.
Bulls’ Psychology In A Bear Market
When facing uncertainties to the downside, human being is loss-averse. However, what people tend to do in such situation is risk-seeking.
Greece Was Ejected From The Latin Monetary Union
The Latin Monetary Union fixed the gold and silver content of coins across member countries. The union did not last forever, and Greece was ejected in 1908.
19 Years Ago, It Was Black Wednesday
With the European sovereign debt and banking crisis on-going, let’s look at what happened to the United Kingdom 19 years ago today.
Fed, ECB, BOJ and SNB Coordinate To Provide US Dollar Liquidity
Fed, ECB, BOJ and SNB are coordinating to provide 3-month US dollar liquidity till the end of the year.
So You Want To Bet On Hong Kong Dollar Appreciating?
For speculators who want to bet on Hong Kong dollar de-peggin/re-pegging, you are probably going to go through a very boring wait.
Before Rubbishing Others’ Debts, Look At Yourself
China likes to tell other developed countries to get their houses in order, as if their own house isn’t not in order. Hypocrisy.
Still Floating The Idea Of Eurobond?
If Wolfgang Münchau reading is accurate, the German constitutional court ruling implies that Eurobond is simply out of the question.
Financials, World. 14 September, 2011, 13:38
French Banks Downgrades Begin…
Société Générale and Crédit Agricole have just been downgraded by Moody’s on its exposure to the Greek economy.
Italian Policy Maker Thinks It Might Be Better To Quit Euro Than…
Martin Wolf wrote in the Financial Times that an Italian policy maker thinks it might be a good idea to leave euro, rather than to endure 30 years of pain.
Peripheral Europe CDS Update
The credit default swap market is now pricing in a 98% chance of default by Greece, while French banks’ funding has been cut off by US money market funds.
Yasheng Huang On China And India
Prof. Yasheng Huang discussed China’s and India’s economic growth, and urge more political reform in China.
Chinese Bond Buying And Exchange Rate Policy
Chinese might be shopping for bonds around, but the motive of propping European bonds and Euro is simply a part of their trade and exchange rate policy.
Quick Europe Update: Sell-Off, But Not Panicky Enough
As the markets face the increasing probability of a Greek default, equities are falling, as Greek government bond yield reached another crazy record.
Germany: Orderly Default Of Greece Is On The Table
Orderly default of Greece is now on the table for Germany. Finally, Germany might be giving up and to face the reality that Greece’s situation is unbearable.
China: Monetary Statistics For August 2011
Money supply growth in China continues to slow, now well below the pre-financial crisis average. Loans growth, however, bounces back slightly.
Some Quick Thoughts On Greece’s Potential Default
Greece defaulting on its debt is no longer unthinkable. What’s unthinkable is the consequence of it, which can potentially be serious.
China, Real Estate. 11 September, 2011, 0:55
Building For Ghosts: Ordos Revisited
Al Jazeera brought some latest images from the now reknown ghost cities of Ordos of Inner Mongolia, China.