That China is a widely accepted global outlier in the context of credit, debt and leverage, look no further than the latest Financial Stability Report from the IMF, which in no uncertain terms lays out where China can be "found" relative to its G-20 peers in the following chart:
Yet according to the IMF, China's bleak picture is based on a relatively rosy estimate of the country's non-financial debt to GDP at approximately "only" 242%.
Authored by Simon Black via SovereignMan.com,
US stock markets hit another all-time high on Friday.
The S&P 500 is nearing 2,600 and the Dow is over 23,300.
In fact, US stocks have only been more expensive two times since 1881.
Last week we explained how junk bond managers were buying increasing amounts of equities to “juice” their portfolios and propel their funds higher in the performance rankings.
While this struck us as a relatively recent development, the tried-and-trusted method of trading more risk for more yield is going gangbusters in the CLO (Collateralized Loan Obligations) market in 2017...
In “Hunt for Yield Fuels Another Boom in Another Complex, Risky Security”, the WSJ notes:
Authored by Vitaliy Katsenelson via RealInvestmentAdvice.com,
Authored by John Rubino via DollarCollapse.com,
There’s a debate raging over what, exactly, bitcoin and the thousand or so other cryptocurrencies actually are. Some heavy-hitters are weighing in with strong, if not always coherent opinions:
Jamie Dimon calls bitcoin a ‘fraud’JPMorgan Chase CEO Jamie Dimon did not mince words when asked about the popularity of virtual currency bitcoin.