Senate Republicans may want to rig the market again so they can insider trade.:
https://edition.cnn.com/2021/09/08/b...ned/index.html
Potential black swan in a US debt default.
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Senate Republicans may want to rig the market again so they can insider trade.:
https://edition.cnn.com/2021/09/08/b...ned/index.html
Potential black swan in a US debt default.
hang seng getting a downside pounding today on the evergrande senario .... guess with china on holiday they woory about it on there return
Are we heading for another recession/depression?
Indeed - from Barrons:
Quote:
It’s Crunchtime for Evergrande. The Market Is Worried.
It’s looking pretty bleak out there.
China Evergrande’s ever-worsening situation and the property developer’s slide toward possible collapse had, before Monday, failed to affect global markets. That could be about to change.
Europe’s major indexes were feeling the pressure early on Monday and Dow futures were more than 500 points lower. Closer to the source of the problem, Hong Kong stocks, and property stocks in particular, tumbled on Monday. But it didn’t end there, as banks and insurers were also dragged into the selloff.
Thin trading may be contributing to the selloff—there are holidays in Japan, China and South Korea. China’s two-day holiday, in the midst of all this, complicates the issue or adds to the drama depending on your viewpoint.
That’s not to say the impact won’t be felt across the Western world—BlackRock, UBS, and HSBC are among the largest holders of Evergrande’s bonds. A downturn in China’s economy would also have major implications across the world, particularly for commodities.
It’s also just too early to say at this point. Chinese authorities have already warned banks that the property giant, which owes more than $300 billion, won’t be able to pay debt obligations due Monday, but the real test comes later this week.
Interest payments on two Evergrande notes are due Thursday, the day China also returns from holiday. That will be crunchtime.
Read about a scenario where China mostly bails out the Chinese Yuan debt holders of Evergrande while mostly stiffing the USD denominated debt holders.
Would fit Xi's world view but the backlash could cause further instability and trade disruption.
Going to be interesting to see how markets react… further decline? I bet there will be nervous holders who find similarities to 2008…
Maybe time to come back to the stability and defensiveness of NZX . CCP doesn't care about stock markets and its investors as they are mainly seen as speculators and well off people who it wants to be seen as hurting to get general masses popularity
Moreover NZX is the only market which has consolidated for YTD and now ready to move up ....maybe this will help it get foreign capital for 5-10% gains in next 6 months
I'm not so sure if any of the narratives (Evergrande etc) are actually influencing this in any meaningful way. I think it's just technical driven after a great run. I have personally been watching for US markets to consolidate for a few months now. They have had zero monthly consolidation in almost a years time! It would take SPY to drop below the monthly EMA12 at ~4000 (a further ~8%) for me to start seeing red flags. It can drop to this point and still be a monthly bull flag, leading to continuation of the trend.
Still too much cash on the sidelines waiting to buy dips.