Europe – Still some financial sector pressures. JP Morgan Expect European Banks To See EUR 137bn Impact From Capital Harmonisation. 13 banks will fall short by €26.4bn. Most banks target CET1 ratios of 10 to 15 per cent, well above regulatory minimums. No wonder we see this:
Asia – fifth successive days of losses in China as Chinese imports fell 13.8 per cent year-on-year in August (vs forecasts at -7.9 per cent). A worry? Well there are lots of fluctuations and impacts. I note the trade surplus is there or thereabouts...
Still lots of chat re Chinese reserves...and you can see why:
Also in the region Australian business confidence fell to a seven month low and Japanese GDP revisions, while better than expected, showed a decline in capital expenditures and don't point to a strong third quarter recovery. Moody’s also cuts regional growth
Inflation – lack of etc.
And finally...yet another chart showing a lack of potential growth prospects: