Archive for April, 2012
File not found. Hugh Hendry on why he is so bearish on China
Hugh Hendry is back and talks about just how bearish he is on China and Asia, and why today is like the 1920s and 1930s.
Composition of China’s monthly net new loans
New loans in China are now geared towards short-term loans and bills, while medium and long term loans demand is weak.
Stealth easing and the dreadful L-shape recovery in China
Dong Tao of Credit Suisse thinks easing is happening behind the scene, but growth will not recover strongly as many expect (or hope).
Companies. 26 April, 2012, 14:40
Volvo is yet another company telling us that China is slowing down fast
Volve’s management now look for a 15-25% decline in construction equipment market in China, which is down from 0% growth in previous guidance.
Economy, United States. 26 April, 2012, 0:36
FOMC maintains monetary policy unchanged in April’s meeting
The Federal Reserve maintains monetary policy unchanged, while noting that strains in financial market pose significant downside risk.
People. 25 April, 2012, 23:04
What you need to know about Warren Buffett
Here’s an infographic showing some facts about the legendary investor Warren Buffett, essentially what you need to know about him.
Companies. 25 April, 2012, 20:35
Are these companies feeling the Chinese slowdown?
ABB and Caterpillar both blame weaknesses in their results on China, while North America seems to be the force that offset weaknesses in Asia.
China records smaller inflow and FX reserve dropped in March 2012
Latest details from the monetary statistics suggest the capital inflow decreased, while FX reserve decreased in March despite quarterly rise of FX reserve.
China, Real Estate. 25 April, 2012, 13:24
Stealth easing in Chinese real estate, and Jim Rogers said there is no bubble
Mortgages are easier to come by in various cities, while Jim Rogers said there IS no bubble in Chinese real estate.
The idea of German decoupling is bunkum
The latest figures from German PMI show that the idea of a German decoupling is wishful thinking.
China, Financials. 24 April, 2012, 17:17
Total banking assets in China amounted to RMB113.3 trillion
The China Banking Regulatory Commission’s report shows that total banking assets at the year-end 2011 amounted to RMB113.3 trillion
Economy, United Kingdom. 24 April, 2012, 16:45
Here’s the evidence that austerity does not work
The UK’s net public debt amounted to 66%, the highest on record, demonstration how austerity failed to produce what it was supposed to produce.
Asian markets are NOT immune to turbulence in developed markets
The chart shows that Asian markets are not at all immune to developed world risks, no matter how strong you think the fundamentals are.
Euro crisis is not over. Just how surprised should you be?
The Euro crisis has not ended because the fatal structural problems of the monetary union have not, and probably will not, be resolved.
Is the shadow FX rate implying a loss of confidence in Argentina?
The drop in implied shadow FX rate of peso shows that the market is rapidly losing confidence after the nationalisation of YPF.
One China’s local government: “Lend me the money, or your career will be at a standstill”
One small local government in Shandong wants to force people into financing their own urban construction.
China, Financials. 20 April, 2012, 10:23
Chinese banks lost more than RMB1 trillion of deposits in 1st two weeks of April
The big 4 Chinese banks are losing deposits in April, and loan growth is stagnant, while net interest margin is declining.
“For everybody who thought China was heading for a hard landing, it’s over.”
Albert Edwards was sarcastic, and really went for the bloke who thought allowing CNY to float more freely means hard landing is impossible.
The China-driven commodities super-cycle debate: Nomura edition
Nomura suggests that the per-capita analysis of metal consumption is understating the intensity of metal use in China.
China, Real Estate. 19 April, 2012, 13:41
Chinese real estate private equity industry as giant loan sharks
The RMB100 billion real estate private equity industry in China is essentially just a giant loan sharks industry.