Following the interest rate cut in China @RealPhatDragon noted 'Another 50bps in cuts needed to get real rates below long run average: minimum objective for PBOC given macro setting'
Now China has to encourage consumption and not investment
Markets are still very firm in China as Fast FT notes today - I still fear potential volatility after such strength and hence am being very selective about my Chinese/HK stock exposure:
Stat of the day: only 2% of the Chinese population pay income tax apparently!
Staying in Asia, Japan upping the ante (growing desperation in my view...)
I noted in Stories we should be thinking about yesterday the rise and rise of India and other less celebrated parts of the world. Here is another indication of burgeoning strength:
Good dynamic (not!) between Merkel and Vlad at the VE celebrations in Russia...
Big week for Greece...headlines look worse and worse...
Marc poll for @EFSYNTAKTON Is govt's negotiating strategy correct? Yes 54.2% (vs 81.5% in Feb) No 43.3% (vs 14.2% in Feb)
ONE TROIKA SCENARIO INCLUDES GREECE PAYING STAFF IN IOUS: WELT