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Something for your Espresso: The untimely arrival of Godot

Finally, markets have awoken to the Chinese stimulus. Read here for our Morning takeaways on the matter
2023-10-25

As evident from the recent developments in the last Chinese trading session, it is clear that the Chinese stimulus is now beginning to impact the markets.

In contrast to the consistent earnings exceeding estimates by US tech giants, Country Garden has recently faced a default on a USD bond. This stark juxtaposition is hard to ignore at this juncture.

While US tech companies boast substantial cash reserves and robust business models, Country Garden is currently navigating what can only be described as a state-sanctioned controlled demolition.

Although China may be embarking on a much-needed and long-anticipated stimulus initiative, there seems to be limited enthusiasm for channeling resources further into the real estate sector

Chart 1: China Construction Investments

Finally, markets have awoken to the Chinese stimulus. Read here for our Morning takeaways on the matter
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