Today Janet Yellen and the FOMC will go back to square one and try to reset global expectations unleashed by the ill-fated December rate "policy mistake" hike, when at 2pm the Fed will announce assessment of the economy (even if not rate hike is expected today) followed by Yellen press conference half an hour later.
Media industry analysts have warned that Hollywood has become so awash with Chinese funding that China now essentially owns and controls most of the Hollywood entertainment industry. A Beijing-based purchase of US film studio Legendary Pictures by Dalian Wanda Group represents the largest-ever film industry takeover by a Chinese company, with $3.5 billion spent on allowing China to become the second biggest box officer player in Hollywood.
Last night we reported that the PBoC is now considering a Tobin tax on FX transactions.
The follows reports that a series of big name money managers - or, as China calls them, “speculators,” “predators,” and “crocodiles” - have placed outsized bets against the yuan.
Remember last week, when China was "fixed" because after the National People's Congress a record-smashing short-squeeze hyped on the back of stimulus hope sent Iron Ore prices soaring 20% in a day? Well that's all over...
Last week, analysts and traders alike were stunned by "the departure from fundamentals" as "the iron ore and steel markets have gone berserk."
Was that it for the great February/March bear market rally?