After crashing 30% last week, Bitcoin is now up over 33% in the last few days helped by a surge in demand from India exchanges after the India government ruled Bitcoin as legal in India...
Yet another big rebound... this time as India - the world's second most-populous nation rules in favor of regulating Bitcoin...
For the 10th day in a row, China's bond yield curve remains inverted (the longest in history).
With yields at 3-year highs, corporate bond issuance is evaporating, and has now emerged as the latest major, and most imminent, threat facing China's financial sector and $10 trillion corporate debt market.
However, it appears Chinese authorities have reached their max pain point.
Back in January, Trump took a very public victory lap when Ford decided to scrap plans to build a $1.6 billion manufacturing facility in Mexico and invest in its Michigan facilities instead (we discussed it here: Trump Takes Victory Lap After Ford Cancels $1.6 Billion Mexican Expansion Plan As "Vote Of Confidence" In President-Elect).
"@DanScavino: Ford to scrap Mexico plant, invest in Michigan due to Trump policies"https://t.co/137nUo03Gl
With just 10 days to go until Illinois enters its third year without a budget, resulting in the state's imminent downgrade to junk status and potentially culminating in a default for the state whose unpaid bills now surpass $15 billion, Democratic Illinois Comptroller Susana Mendoza issued a warning to Illinois Gov. Rauner and other elected officials on Tuesday, saying in a letter that her office has "very serious concerns" it may no longer be able to guarantee "timely and predictable payments" for some core services.
After three consecutive unsuccessful attempts by China to have its A Shares included in the MSCI Emerging Market index, moments ago the fourth time proved to be the charm, when MSCI finally relented and agreed to add China's A shares to the much desired index.