After a weekend of disappointing macro data (which was characterized as "mixed"), China's markets tanked. Not stocks, of course, instead more record lows in bonds plus a very sharp drop in CNY. As we know only too well, CNY DOWN = BAD and yuan is right back near multi-year lows. It's not the only one, either.
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Bloomberg China’s Factory Activity Expands in Sign of Slow Recovery
https://www.bloomberg.com/news/articles/2024-11-30/china-s-factory-activity-continues-expansion-in-sign-of-recovery
Bloomberg China’s 10-Year Yield Sinks to Record Low on Bets PBOC Will Ease
https://www.bloomberg.com/news/articles/2024-12-02/china-s-10-year-yield-is-heading-toward-record-2-on-easing-bets
Bloomberg China Skips Politburo Readout as Investors Await Stimulus
https://www.bloomberg.com/news/articles/2024-12-02/china-skips-politburo-readout-as-investors-await-stimulus-clues
Bloomberg China Home Sales Drop Again as Sustained Stimulus Effect Missing
https://www.bloomberg.com/news/articles/2024-11-30/china-home-sales-drop-again-as-sustained-stimulus-effect-missing
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What is Eurodollar University?
Jeff Snider will guide you through the realm of monetary science. Multiple episodes uploaded each week, discussing big news and key current events, the state of markets and what they are telling you, as well as historical summaries and deep background material so that you can understand what’s really going on in this eurodollar’s world.