China Is Imploding – Yuan breaks key support vs USD… Debt keeps rising… suffers its Biggest bankruptcy Of 2018… The PBOC finally panics!

In the past 48 hours China has:
– Cut its 7-day Treasury rate by 103bps
– Launched quasi QE
– told banks to flood the system with liquidity
– Sent the Yuan tumbling
– Warned more easing is coming

 

China

Industrial production and current account show a completely different picture from the science fiction estimates of some agencies.

Yuan breaks key support vs USD…

Debt keeps rising.

 

As China Suffers Its Biggest Bankruptcy Of 2018, The PBOC Finally Panics

Why China’s private firms are falling into a shadowy debt black hole

Right on Cue, With Trade War Options Ending, Trump Starts Jawboning Currency War

As we’ve been predicting for months, with the unwinnable (for anyone) trade war grinding toward its surefire stalemate and having now publicly exhausted his tariff options, it’s currency war time. Trump has begun his campaign to weaken the dollar.

Trump: “Tariffs on 100% of China Imports”; Fed’s Powell: “What Trade War?”

In a spectacular display of willful cognitive dissonance, while the president vocally embraces going max-trade-war and tariff-izing every single Chinese item that crosses US borders, Jerome Powell, the man whose take on the US economy matters most of all, refuses to admit there is any trade war at all.

 

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