IIFT Daily Note with Peter Brown

Daily Note – China Syndrome

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Daily Note – China Syndrome

Man watches a board showing the graphs of stock prices at a brokerage office in BeijingSummary

  • China burning?
  • Greece getting worse, Germans playing hardball
  • Is Greece simply a small Spain?
  • United States: Solid Fundamentals

Good morning from London,

Grey, overcast and sweaty here – a bit like the outlook for Chinese investors. As we told you a few weeks back we cut our Chinese exposure dramatically having done very well over the past eighteen months. We should have sold everything but we sold most, as I indicated last month that it had all the signs of a Minsky Moment ahead. This has now come to pass.

As to how they fix it, I am not too sure. One thing we know is that intervening to stop a market fall makes a market fall! The fact that the shares of so many companies have been suspended makes me think that the rout is just beginning.

Download a FULL PDF version of the Daily Note:

GlobalMacro360 Daliy Note 8th of July 2015

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