May 18, 2022 | Daily JAM, Videos |
My one-hundredth-and-thirty-sixth YouTube video “Looking for a wider credit crunch” went up today. I think last week’s video worrying about a credit crunch in the consumer economy was a bit too optimistic. I’m now seeing signs in the market of a wider credit crunch. In this video, I look at the junk bond market and its reflection in Bausch (BHC) as a test case as well as the trend in profits for the S&P 500. And another default in China’s property development sector as well as the possibility that the default by Sri Lanka is just the first sign of emerging market distress
December 20, 2019 | Daily JAM, Long Term |
Hengfeng Bank has announced that it will sell 100 billion shares in a private placement to raise cash. This is the third Chinese commercial lender to receive government assistance since May. Investors in the deal will include Central Huijin Investment (60 billion...
September 26, 2019 | Daily JAM, Morning Briefing |
No big bad news story from China this morning, but the news trend continues to emphasize the downside. For example, this morning a U.S. official said the U.S. is unlikely to extend a waiver allowing American firms to supply China’s Huawei Technologies with technology...
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 | 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?
