Germany’s DAX respected its new support at 10500. Follow-through above 10800 would confirm the primary up-trend.
* Target calculation: 10500 + ( 10500 – 9500 ) = 11500… 72 more words
On secular stagnation: “I don’t see growth picking up until you either redistribute income downwards — which is politically quite difficult and slow — or developed countries which are credible borrowers engage in massive infrastructure spending — which would be a great idea but politically difficult — so I’m afraid secular stagnation is going to last several more years.” 68 more words
The Yuan is sliding against the Dollar, with USDCNY breaking through resistance at 6.60. Expect further capital flight, both from residents and offshore investors. Borrowers will also seek to repay Dollar-denominated loans and replace them with facilities in the local currency, adding further pressure on the Yuan. 90 more words