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The most interesting part of Alan Abelson’s column in Barron’s this week (subscription required for full article) came at the end. He talked with an economist from the American Enterprise Institute, John Makin, who threw a lot of cold water on the idea that China’s growth is sustainable, and even real. He claims [...]
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The market in the E-mini S&P futures greeted traders this morning with a 2.25% decline, signaling trouble for the U.S. equity markets on the open today. The catalyst many analysts are pointing to is the consumer numbers from Friday but this is a delayed reaction for those in the U.S. market.
I think this underscores [...]
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Here’s what is going on in mid-morning activity this Friday…
China Shanghai Index down 3% … this hurts the commodity bid and throws a wrench in the global recovery theory.
Commodities are in free fall, sending the materials sector is down more than 3%. The dollar index is higher and other fly-to-safety instruments are bid.
University of Michigan [...]
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The Wall Street Journal reports this morning that the Treasury Department will likely increase sales of it inflation-protected bonds, or TIPS.
Part of the reason for this seems to be that China has requested this to be a bigger part of the auction mix.
Obviously, since China is the biggest buyer of U.S. bonds, it seems that [...]
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So which do we follow? In China, the Shanghai Index dropped more than 5% today after rallying 7% the last week. Europe generally stands 1% higher today.
It appears we should look toward China as our international guide, as concerns over credit growth slowing and valuations ( the market trades at a 35 [...]
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