Justin had the news on Tuesday here:
- China is said to be planning a budget deficit of more than 4% of GDP next year.
- That will be a step up from this year's target of 3% of GDP.
To 4% from 3% is substantial. Justin adds the caveat:
- Just be aware that all of these plans are still subject to change
- an official target is usually announced in March at the National People's Congress (NPC) session.
Yes.
Adam posted his opinion on China overnight, with a record of Chinese bond yields falling off a cliff. I did a double take at the card Adam posted, I thought it was Heikin Ashi with all the bumps, but it wasn't…just really ugly.
Here's a longer view… even uglier. Just for giggles I posted the US output chart… and you want to know why the yuan is under pressure?
