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China Kicks Off Key Week For Global Economy With Good News
On Saturday, we spent quite a bit of time discussing the extent to which the fate of the global economy hinges on China's credit cycle and whether Beijing is ultimately successful in averting a hard landing by pulling the various fiscal and monetary levers at their disposal to juice activity.
There was good news on that front just hours after the above-linked post was published. China's official manufacturing PMI ticked back into expansion territory after contracting for three consecutive month
“…tired, old “the data is fake!” cries notwithstanding…”
Cliches exist by dint of varying degrees of consistent proof – so it is not so snarkily dismissed by everybody; for those, the issue of a not small portion of the financial cabal is whether it is egregiously massaged or within normal assumptive parameters (thereby conforming to the historically known latitudes.)
Right. Which is why it doesn’t matter. Everybody who needed to figure out what those parameters are did so years ago and that’s baked into consensus estimates which are readily available on the bloomberg. for everyone else, it’s not worth shrieking about.