Chinese inflation comes in lower than expected–five effects on financial markets
Consumer inflation in China rose in October at just a 1.3% rate year over year. That was the lowest rate since May. Economists had expected an increase of 1.5%
Saturday Night Quarterback (on Monday) says, For the week ahead expect…
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Alibaba blows through Wall Street projections in earnings report
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This week brings market moving macro news from China to Japan to the U.S.
What a week for news! Here’s my quick day-by-day run down of this week’s news that could move the financial markets
People’s Bank jumps the gun by cutting interest rates ahead of next week’s meeting of China’s leaders
The People’s Bank decided not to wait for next week’s plenary session of the leaders of China’s Communists Party before cutting interest rates to 4.35%
Below target but better than predicted GDP growth from China today
Third quarter GDP grew in China at a 6.9% rate. That was above the 6.8% rate predicted by economists but below the government’s target of 7%
Bad news on China’s imports raises fears for next week’s GDP report
A report of a sharp drop in Chinese imports in September isn’t exactly what investors want to see ahead of next week’s report on third quarter GDP growth. Imports dropped at a 20.4% annual rate
The numbers continue to point to slowing growth in China
The steady stream of bad news on China’s economy has led economists to predict that the Chinese government will lower its target for growth next year
Market doubts increase about China’s ability to turn growth trend around
With Chinese President Xi Jinping starting a state visit to the United States, can you really imagine officials back in China letting Chinese markets go down?
Today bad news out of China on the economy is bad news for stocks in Shanghai
Why the shift in market reaction? One possibility is that it’s arbitrary and a reflection of a trendless market. On the other hand, there’s the possibility that it shows an increasing skepticism about the power of central banks (and governments) to guide economies to higher growth.
Markets follow central bank policy today rather than real economy
In Shanghai, Tokyo and New York today stock markets moved on anticipation of central bank policy shifts rather than the direction of the real economy
I’m using today’s cash-induced rally in Shanghai to sell Mosaic–I just don’t see higher stock prices leading to stronger economic growth in China
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