Archive for May, 2012File not found. Déjà vu: Citigroup Economic surprise index looks like a repeat of last year
The Citigroup Economic Surprise Index for the US is looking disturbing similar to how it looked last year around the same time.Chinese banks “among the most thinly capitalised”
Chinese banks are among the “most thinly capitalised in emerging markets”, and much less capitalised that the official figures suggested.Be Shocked? Or be worried? French and Greek Elections
Results from French and Greek elections are not unexpected, but the outcome of the Greek election could be turmoil ahead.
Economy. 4 May, 2012, 12:11So, is Australia really a bubble?
Australian economy has very high household debt level, and its economy is highly dependent on Chinese growth, which is one massive bubble.How big was the US housing bust, really?
The 2007 US housing bust, although severe, was not completely outside the range of DM housing busts in history.European Central Bank keeps interest rates unchanged
The European Central Bank continues with its lack of action, just as the market has expected.Chart: The tragedy for the Eurozone
As Eurozone unemployment hits euro era record, it is the people in the peripheral like Spain that suffer most.The consequence of fiscal austerity in parts of a monetary union
The consequence of fiscal austerity in one part of a monetary union means economic contraction in the whole of monetary union.Eurozone economy: the slow-motion train wreck
The austerity of the PIIGS has led to a slow-motion train wreck in the whole the Eurozone, as all of them are slipping or has slipped into recession.You have to be delusional to be a huge China bull now
More pieces are currently falling into place for the bear case in China, and one has to be delusional to stay in the super-bullish camp.Mayday Mayday Mayday: Hong Kong Edition
“Sell in May and go away”, it worked in 2008 and 2011 for Hong Kong market. Will it work again this year?The tale of two PMIs: official and HSBC China PMI continue to diverge
China’s official PMI and HSBC/Markit PMI continued to show divergence for the headline figures.LTRO, or the backdoor SMP
While ECB insists on putting SMP on hold, LTRO and a bit of financial engineering produce and outcome which is not much of a difference.China’s manufacturing PMI shows slight expansion in April 2012
The latest manufacturing PMI confirms that the Chinese economy have stabilised, but the future remains very bleak.