Archive for September, 2012
File not found.
Financials, World. 30 September, 2012, 23:51
Spanish bank stress tests: detached from reality
The stress test of Spanish banks does not come across as particularly realistic.
FX positioning and outlook – 30 September 2012
Weekly FX positioning and outlook for the coming week (1 Oct – 5 Oct 2012).
Addiction to central banks’ stimulus gets out of control
As if money printing solves every problem of the humanity.
China’s liquidity condition is not getting any help from inflow (yet)
Sizeable money inflows should ease China’s liquidity, but that does not seem to be happening. Not yet.
Shanghai composite and PMI’s new orders less inventory [Chart]
Shanghai composite and PMI’s new orders less inventory measure track each other pretty well.
HSBC/Markit China manufacturing PMI shows weakness in September
HSBC/Markit China manufacturing PMI increased to 47.9 in September, but it continues to show very weak picture in manufacturing.
China’s stock market and political cycles: coincidences to be ignored
Forget about the political cycles.
A possible path for bulls in the Eurozone, and why it may not work
Spain’s new austerity may be followed by application for aid, but from there, things may not work out as expected.
10 observations around the global economy
Here are 10 observations around the global economy as the week ends.
Chinese Yuan hits highest level against USD, but PBOC wants it weaker
Chinese Yuan hits its highest level against the US dollar since 2005, but PBOC’s daily fixing shows no appreciation at all.
How to prop up the Chinese stock market
Massive stimulus could help, but it is not going to turn into a long and sustained bull market.
Chinese banks may have lent RMB600 billion in September
Chinese banks may have lent RMB600 billion in September, with the most optimistic forecaster expecting RMB750 billion.
Spanish deposit outflow continued, albeit at slower pace
Spanish deposit outflow continued in August
Spain is Fixed! Again! Maybe
Spain may be saved. Or maybe not.
The bear in a bath
Albert Edwards is cutting the weighting of equity to 30% while having a bath.
China’s rail cargo volume declined further in August
China’s rail cargo volume in August 2012 fell 9.2% yoy, indicating continued weakness.
China’s local governments have announced RMB20 trillion of investment plans
Local governments have already announced close to RMB20 trillion of projects, but that means nothing.
PBOC’s aggressive open market operations fail to have lasting impact
PBOC has actually injected a lot of money into the banking system, but monetary condition remains tight.
European stocks and political risks [Chart]
Here is a chart showing Europeen stock market and major political decisions.
People’s Bank of China’s weekly net liquidity injection hits record high
PBOC’s net liquidity injection hits record high this week, with another round of injection of RMB180 billion today.