China

News is that the German Constitutional Court has rejected efforts to block Germany from participating in the guarantees that are a critical part of the Stabilization Mechanism.   While many expected such a ruling, there was a…

A news wire is reporting that Russia remains committed to diversifying its reserves and has not changed its view of the euro.  This is consistent with what several other central banks, including China, Japan and South Korea have…

Max and Stacy talk about Twitter hashtag manipulation, elections in Reykjavik and the BP oil spill for some good fun.  Later in the episode I come on and ruin it with a little doom and gloom.  Take a look. OK, the BP stuff isn't…

The PDF of Hugh Hendry's letter to investors is embedded below. Enjoy. Eclectica Monthly Letter 2010 05

Asian stocks fell as China released a bearish manufacturing report this morning. Added to this bearish news out of China is a spate of negative credit ratings news in Europe (Spanish Bank CAM, Brussels regional government, etc) and a…

Two notes from Andy Lees of UBS confirmed for me that a slowdown in China is underway and that developments in Europe are adding to the pressure.  In my view, this may mean a second-half reversal of the tightening we have seen in China…

Japan's DPJ government has been forced to back down on its campaign pledge regarding the moving of the US Marine Corp base in Okinawa.  Prime Minister Hatayama's retreat may come at a high political cost.  It appears to have…

As the Chinese government looks to slow the economy, non-performing loans in the banking sector will come into view. Clearly, the Chinese authorities want to slow the pace of house price and consumer price inflation and reduce rampant…

A bartender at my neighborhood pub recently asked me how the Shanghai stock market was performing. I said it was at about 2,600 points. He jumped and said, “No! The Communist Party wouldn’t let that happen.” He spent the next 10…

On China via Andy Lees of UBS: The yields on two sets of bills moved in opposite directions. The PBOC issued 3 month bills at a yield 4bpts higher than the prevailing rate, whilst 3 year bill yields fell 2bpts. “The divergence underscores…