Authored by Michael Pettis, op-ed via The Financial Times,
Beijing must reveal the true level of GDP and wasted investment...
China’s 19th Communist party congress ended last month with an indication that Xi Jinping’s new administration plans to rein in debt by abandoning the country’s long-term economic targets and allowing gross domestic product growth to fall.
Authored by David Stockman via Contra Corner blog,
The Senate Finance Committee tax bill is not supply side and it's not even a tax cut; it's a gimmick-ridden policy mongrel that smells to high heaven of political desperation and cynicism.
From Nicholas Colas of DataTrek Research
Why do global equity markets ignore political shocks like Brexit, President Trump’s election or the news that Angela Merkel failed to form a government in Germany? There are plenty of good reasons, actually, which we review below.
The NYU Stern school of business is hosting the latest installment of the "In Conversation with Mervyn King" series featuring outgoing Fed chair, ?Janet Yellen, who in just over two months, will depart the Fed, making way for her replacement, former Carlyle partner Jay Powell.
WTI/RBOB bounced today in anticipation of a reversal of the last two week's builds in crude inventories, and bulls were not disappointed by the API print. Jan '18 WTI pushed above $57 and RBOB rose after a big crude draw (though gasoline build).
“It looks like we are going to get a draw in crude oil inventories. That’s somewhat supportive,” John Kilduff, a partner at Again Capital LLC, a New York-based hedge fund, said by phone.