China

How things change in crypto - in January 2017, before the crackdown by the authorities, China accounted for nearly 100% of bitcoin trading...

In the “golden era” of Chinese crypto trading, mainland operators built up considerable expertise before they were forced out of business. Some of those operators of Chinese exchanges are setting up again in “friendlier” jurisdictions around Asia, as Bloomberg reports, and their aspirations are global.

Earlier this week, we pointed out that the 'PetroYuan' is on the verge of becoming reality with Graticule's Adam Levinson noting that the birth of a yuan-denominated oil contract will be a “huge story” in the fourth quarter, and will be a “wake up call” for investors who haven’t paid attention to the plans.

As a reminder, nothing lasts forever...

It is hardly a secret that thanks to nearly $4 trillion (at least) in credit creation in 2017 - more than the rest of the developed world combined - China has been the proverbial (and debt-funded) "growth" dynamo behind the recent period of "coordinated global growth." Unfortunately, much if not all of this was window dressing for the just concluded 19th Communist Party Congress, which in not so many words, made Xi Jinping into a de facto emperor with no apparent or otherwise heirs.

Russia Buys 34 Tonnes Of Gold In September

US equity futures are higher, boosted by a bevy of better than expected earnings out of tech giants Amazon, Intel and Microsoft as Asian stocks and European shares climb amid the dovish sentiment unleashed from Thursday’s ECB update.