China retail sales +2.5% for august vs 7% expected means:
1. They’re lying and it’s way worse.
2. There is a massive covid spike inducing it and they’re lying.
When the world’s 2nd largest economy misses by this much there will be tidal wave like ripple effects.
— Endless Capital (@nunziato_frank) September 15, 2021
This should send shivers down the spine of anyone who lived through 2008. pic.twitter.com/Qi4qMiEPxN
— Financelot (@FinanceLancelot) September 14, 2021
CHINA INFORMS BANKS THAT EVERGRANDE WILL NOT PAY INTEREST DUE ON SEPTEMBER 20TH.
— Breaking Market News (@FinancialJuice) September 15, 2021
Big miss in China retail sales
*CHINA AUG. RETAIL SALES RISE 2.5% Y/Y; EST. 7%
*CHINA JAN.-AUG. FIXED INVESTMENT RISES 8.9% Y/Y; EST. 9%
*CHINA AUG. INDUSTRIAL OUTPUT RISES 5.3% Y/Y; EST. 5.8%
— xero (@TradingandMore) September 15, 2021
FITCH WIRE: FITCH DOWNGRADED CHINA EVERGRANDE GROUP TO 'CC' FROM 'CCC+' ON 7 SEPT, INDICATING THAT WE VIEW A DEFAULT OF SOME KIND AS PROBABLE
— FXHedge (@Fxhedgers) September 15, 2021
Evergrande said it cannot sell assets fast enough to service its massive $300bn debts, and that its cashflow was under “tremendous pressure”.
It has said that a significant drop in sales would continue, which will further deteriorate its liquidity and cash flow.
— unusual_whales (@unusual_whales) September 15, 2021
— FinTwit (@wallsteetbets) September 15, 2021
Chinese casino stocks. This is not for the year this is overnight. pic.twitter.com/YIgqopUX0T
— David Tracey (@David_Tracey) September 15, 2021
— Make Black Swans Great Again (@RetirementRight) September 15, 2021