Something for your Espresso: Dancing on Graves?
Godot may have finally arrived in China, but the sobering reality is that we are still in the dark about the specifics, and there are doubts about whether the impending stimulus will be sufficient. Please find our morning report below for more details.
ood morning everyone!
Markets have indeed been reveling, even against a backdrop of geopolitical distress. To paraphrase Leibniz, nothing is so beneficial that it doesn’t harm someone. While markets relish the “sweetness” of Chinese economic prospects, it’s not devoid of risks.
Chart 1: China, General Gov. Balance
Godot may have finally arrived in China, but the sobering reality is that we are still in the dark about the specifics, and there are doubts about whether the impending stimulus will be sufficient. Please find our morning report below for more details.
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