A paraphrased quote from yesterday: “Investors just want China to ease already, so global stock markets will rally again.” We wake today to futures down over one percent and China slowdown worsens amid signs U.S. losing steam at Reuters.
Beijing’s “Stimulus 2.0” will be targeted. China Daily
When a country industrializes, steel is the first commodity to see a decline in the rate of growth. Using VALE as a proxy, iron ore could be weak. March and June, however, were robust. Minyanville
Supercycle gearing down: Globe and Mail
India’s GDP growth fell to 5.3%; seeking ‘immediate corrective actions.’ Economic Times
If policymakers do not juice and print fast enough, the default and deflation boogeyman is strong enough that Albert Edwards is correct. Business Insider