March 18, 2014 | Daily JAM, Morning Briefing |
The Chinese financial markets have decided that when Premier Li Keqiang said recently that defaults are “unavoidable,” he didn’t mean they were unavoidable for state-owned enterprises or local governments—even though those two sectors are the source of the biggest bad debt problems in China’s financial system.
March 14, 2014 | Daily JAM, Morning Briefing |
The failure of Haixin Steel to repay loans due last week isn’t an especially big deal on the surface. The company doesn’t even rank among the Top 30 steel mills in China. But the big role that this small steel company plays in China’s financial system shows exactly why that system is so vulnerable to relatively minor tremors.
March 12, 2014 | Uncategorized |
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March 12, 2014 | Daily JAM, Morning Briefing, Short Term |
Copper is known as a key indicator so the 9% three-day drop in copper prices for three-month delivery on the London Metal Exchange is worrying. On Wednesday, March 12, copper in London fell to its lowest price since July 2010 before rebounding slightly. But exactly what is copper indicating right now?
March 7, 2014 | Uncategorized |
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March 5, 2014 | Daily JAM, Morning Briefing, Short Term |
Is it a case of too much news from Asia? With the negatives and positives canceling each other out? Certainly the news items individually are big enough to have moved Asian markets, even global markets, more than we’ve seen in the last two days.
January 28, 2014 | Daily JAM, Morning Briefing, Short Term |
For the moment relief from China is trumping negative news on durables orders from the United States. Relief from China stems from a decision by the Industrial & Commercial Bank of China, China’s biggest lender, to stand behind a trust product issued by China Credit Trust, that was facing default on January 31.
January 9, 2014 | Mid Term, You Might Have Missed |
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December 31, 2013 | Uncategorized |
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December 20, 2013 | Daily JAM |
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September 24, 2013 | Daily JAM |
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April 18, 2013 | Daily JAM, Mid Term |
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