Business

In early November, we discussed how commentators were disturbed by the sell-off in Chinese government bonds after the Party Congress, which saw yields rise to 4.0%. The anomaly was that yields in less-liquid, unsecured Chinese corporate bonds had barely moved. Some sleuthing on the part of the Wall Street Journal discovered that the most likely explanation was that redemptions in China’s shadow banking sector, especially in the infamous $4 trillion Wealth Management Products (WMP), meant that cash needed to be raised…quickly. Highly liquid government bonds were the easiest option.

Submitted by By Shant Movsesian and Rajan Dhall MSTA of FXdailyterminal.com

An Athens Appellate Court Prosecutor has found 36 people guilty for the infamous “Athens Stock Exchange Crash of 1999” that caused thousands of small investors to have lost their life savings.

As KeepTalkingGreece.com reports, it has taken 18 years for an Athens Appellate Court Prosecutor, Athina Theodoropoulou, to find guilty 36 individuals implicated in the affair – including stockbrokers, investors, and shipowners.

Authored by Jeff John Roberts and Nicolas Rapp via Fortune.com,

Just as gold bars are lost at sea or $100 bills can burn, bitcoins can disappear from the Internet forever.

When all 21 million bitcoins are mined by the year 2040, the actual amount available to trade or spend will be significantly lower.

It appears The National Team is taking a well-earned break as Chinese stocks extend their losses from late last week in the biggest 3-day drop since June 2016.

Breaking below a key technical support level...

Chinese shares were already on a shaky footing after last week when investor confidence was sapped by fresh government steps to reduce financial risks, and a rout in the bond market; but three straight days down with no aggressive 'management' buying is unusual...