Germany Just Dodged A Recession. And That Means You Can Kiss Your Fiscal Stimulus Hopes Goodbye
The “black zero” fiscal policy is likely to hold.
The “black zero” fiscal policy is likely to hold.
Patience is a virtue. And China has been patient.
“Targeted measures are clearly insufficient to stabilize even credit growth, never mind the real economy”.
Misses pretty much across the board.
The cross-asset reaction to the latest tariff news was quite dramatic.
“We have a policy, that is not in question”.
This was always the risk.
“Fiscal [stimulus] changes the whole equation”.
“They should probably wait out our Election to see if we get one of the Democrat stiffs like Sleepy Joe”.
Time to use some of that “tremendous” policy flexibility.
Sooner rather than later.
Still, you can hardly blame the market for thinking the yuan is headed lower.
Not out of the woods quite yet, apparently.
…you’re left to question both the will and the ability of Beijing to prolong the global cycle.
“In the short term, it’s not necessary.”
Herding cats, and such.
Turning a corner?
Xi has your back, or so it seems.
If it’s good news on the “reflation” narrative you seek, blockbuster credit growth and export data will do.
The “Euphoric†case.
“Stabilizing at a low level”.
Risk asset buoyancy amid a cloudy outlook.
This should serve its purpose while the trade talks continue.
Make Chinese borrowers default again.
“…we think cutting the risk-free rate is becoming more necessary and imminent.”
You must be logged in to post a comment.