Tag Archives: China

A Short Sharp Shock?

Posted on March 9, 2020 by

These fevered times bring back memories. For the first time since the seventies, we are facing a supply shock, a non-financial threat to our economy, While the Fed has responded already, it’s not the response we will ultimately need. Continue reading →

Posted in China, Economics, Investing, Market Cycles | Tagged , , | 2 Comments

Chinese Debt for Equity Swaps, 3 Card Monte By Another Name?

Posted on April 6, 2016 by

The Chinese government is bandying about debt for equity swaps as a potential cure for the overhang of corporate debt in the middle kingdom.  Much, if not most, of the bank loans in China have been made by government owned banks to … Continue reading →

Posted in China, Credit, Emerging Markets, Equities | Tagged , , , | Leave a comment

Banking the Fire

Posted on February 18, 2016 by

The narrative of the current market downturn, bear market, correction or whatever you prefer to call it had been about oil, China and the emerging markets.  Now the banks have been put into play.  Year to date their decline has outstripped … Continue reading →

Posted in Banks, China, Credit, Equities, Uncategorized | Tagged , , , | Leave a comment

Focus on the Chinese Currency, Not the Equity Market

Posted on January 8, 2016 by

Chinese equities have started the new year with a series of implosions, implosions exacerbated by the authorities’ ham handed attempts to dampen volatility. Despite the sound and the fury, the Chinese stock market is a sideshow. Ownership of Chinese equities is … Continue reading →

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Some Thoughts on the Yuan and Chinese Monetary Policy

Posted on August 25, 2015 by

China has dominated recent newsflow due to its stock market crash and the devaluation of the yuan (CNY).  The latter, I believe, is an attempt to free up the PBoC to conduct domestic monetary policy to deal with the aftermath of … Continue reading →

Posted in Central banks, Currency, Emerging Markets | Tagged , , | 1 Comment

Apres China Le Deluge?

Posted on July 6, 2015 by

China’s stock market has been in the news due to its recent plunge.  The plunge follows a strong run up over the last year. Whatever the reason for the spike up and the subsequent dive, this is a Chinese problem whose … Continue reading →

Posted in Emerging Markets, Equities | Tagged , , | Leave a comment