Breakneck Monetary Expansion Needs to Stop or Reverse in Order to Brake the RMB's Fall
China's money supply (M2) has quadrupled in the past 10 years to US$27.2 trillion in May 2018, nearly double the size of US M2 (US$14 trillion)....
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China Can't Afford the Widening Conflict with the US: RMB's Fall Is Thin End of a Strategic Wedge
With FAI (fixed asset investment) up just 6.1% YoY in Jan-May 2018 (the slowest in 22 years), China cut banks' RRR for the second time in 10 weeks....
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What Is Happening with the RMB?
Taking all the data into account, we believe the RMB is falling because the USD is rising. The relationship between USD and RMB are inversely...
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Wholesale Funding Remains Vitally Important to Chinese Banks
A compelling takeaway from all of this is that Chinese banks remain heavily dependent on interbank and PBOC liquidity provision. We believe the...
213 Views
Asian Credit Monitor: The Chinese Corporate Bond Default, Not a Systemic-Risk
2018 has seen a number of corporate defaults for the Chinese onshore bond market. That has led investors to become more risk averse, in our...
413 Views