Now that all eyes have turned on China eager to find how it will react to a potential Fed rate hike in June or July, the question is whether the sharp Chinese devaluation unveiled overnight, which sent the Yuan to fresh 5 year lows, will be a one-off event, and whether the PBOC will intervene far more aggressively in the offshore CNY market to keep FX market turmoil to a minimum.
According to at least one person, the answer is no.
By EconMatters
A lot of analysts think that $50 a barrel oil is as good as it gets for 2016, we think there is a substantial short squeeze coming in the oil market as we take out $54 a barrel over the coming months. We take a look at the EIA Weekly Petroleum Report in this video, and provide some analysis to the weekly data.
https://www.youtube.com/watch?v=8f4-FHxJA5E
Yuan devalues to lowest since 2011, US Services economy plunges, bonds rally, and USD drops... so why not extend yesterday's manic stock gains...
The short squeeze continues - "Most Shorted" stocks biggest rise in 2 months...
Many economic indicators are at their worst since the Great Depression …
For example, we noted in 2009 that more Americans will be unemployed than during the Great Depression.
We noted in 2010:
The following experts have – at some point during the last 2 years – said that the economic crisis could be worse than the Great Depression:
