Home > Sept 2017, Uncategorized > Sept 15, 2017 Hugh Closes Fund and Says everything is good, ahh China copper still dropping

Sept 15, 2017 Hugh Closes Fund and Says everything is good, ahh China copper still dropping

September 15th, 2017

Shanghai Futures were down again tonight. The Cryptcurrencies dropping again. Yet are futures are flat. This is a very frustrating week for me. We should be down, yet everyone is so happy and bullish? In Hugh Hendry’s good-bye letter he indicated that he would remain long and that “China continues to rip”. Of course, this is where I disagree. Since 2009, it truly has been China that has Stimulated this World. Their Stimulus surpassed the global Central Banks in mass. China created a commodity and property bubble thru all of this action. Bubbles always Pop, even when the Central Banks have the market backs. China Loans in August came in higher then July but missed estimates (wonder how many borrowers went out and bought bitcoin?) BoE members came out very Hawkish indicating that they will be raising in the future, Pound is in rally mode over it.

Sept 2017, Uncategorized

  • Trading_Nymph

    BEIJING, Sept. 15 (Xinhua) — China’s new yuan-denominated lending in August hit 1.09 trillion yuan (about 167.7 billion U.S. dollars), up from 825.5 billion yuan in July, the central bank data showed Friday.
    The M2, a broad measure of money supply that covers cash in circulation and all deposits, at the end of August rose 8.9 percent from a year earlier, slowing down from 9.2 percent recorded a month ago, the People’s Bank of China said in a statement on its website.
    The narrow measure of money supply (M1), which covers cash in circulation plus demand deposits, rose 14 percent year on year, down from the 15.3 percent rise registered at the end of July.

  • Trading_Nymph

    Panther your post was a good wake up call for me! I can’t even begin to stand in the shoes of your father in law, loosing a home that he lived in forever, and finding out that is not insured is one of the worst financial nightmares anyone can face. Makes my hissy fit over the market being so bullish seem so misplaced for sure!

  • Trading_Nymph

    One of the big trends this year is Minimalism. Decluttering is hot. Tiny Houses are hot. http://www.huffingtonpost.co.uk/lyndsay-weir/minimalism_b_17911544.html

  • Trading_Nymph
  • Trading_Nymph

    The drop in Cyptocurrencies are basically a drop in China Money getting out of China. That IMHO effects the global real estate markets, bonds and should also include Equities???

  • Trading_Nymph

    ODI drops on halt to irrational activity
    By Zhong Nan and Ren Xiaojin | China Daily | Updated: 2017-09-15 07:02
    ODI drops on halt to irrational activity
    Ministry says it found no new spending in sport, real estate in first eight months

    China’s outbound direct investment from non-financial sectors dropped 41.8 percent year-on-year to $68.72 billion between January and August, as the country halted irrational investment activities since the end of 2016, the Ministry of Commerce said on Thursday.
    The drop in the country’s ODI during this period narrowed from the 44.3 percent year-on-year decline in the first seven months to $57.2 billion.

    Commerce Ministry spokesman Gao Feng said the government found no additional investment in sports, real estate and entertainment business in the first eight months, and these sectors are not easy to supervise and prevent from criminal activities.

    “The majority of China’s ODI mainly, in the meantime, entered sectors including commercial leasing, manufacturing, wholesale and retail, information transmission and technology in the global market, indicating that the country’s ODI structure has further been optimized and become more commercialized and technology-based,” said Gao.

    “Chinese companies are now paying more attention to physical investment as the declines in overseas manufacturing industries were smaller compared to those in the property, culture, sports and entertainment sectors,” said Ma Yu, a senior researcher at the Chinese Academy of International Trade and Economic Cooperation in Beijing.

    Since late 2016, government agencies such as the State-owned Assets Supervision and Administration Commission and the Ministry of Commerce have been reinforcing inspection of authenticity and regulation compliance of ODI to improve profit and control risks.

    In the latest efforts, the central government decided to limit ODI by domestic companies in several fields, including real estate and sports clubs, while encouraging them to invest in infrastructure and new technology.

    Companies from China invested in 4,789 firms in 152 countries and regions from January to August and signed $149.57 billion in new contracts for overseas projects, a rise of 12.7 percent year-on-year.

    The ministry said China will continue to tighten its review of the authenticity of overseas investment and its compliance with regulations, and guide more investment into the real economy and reduce investment in sectors in which Chinese companies are not proficient at managing.

    Meanwhile, outbound investment to 52 economies involved in the Belt and Road Initiative stood at $8.55 billion, accounting for 12.4 percent of total ODI, up 4.3 percentage points year-on-year.

    “The infrastructure development related to the initiative will require a high degree of coordination between and among states, the private sector and the civil society, as well as vast investments of capital and material resources,” said Zhang Yansheng, deputy director of the expert committee of the China Council for the Promotion of International Trade.

    “Therefore it is necessary for governments and companies engaged in the initiative to have a clear understanding of the key factors in driving success.”

  • Trading_Nymph

    From the China Standard…China’s factory output, retail sales, and fixed asset investment fell short of expectations although real estate investment picked up pace again in August with demand holding up despite various government curbs.

    Real estate investment, which directly affects 40 other business sectors in China, is considered a crucial driver for the economy.

    Analysts said an acceleration in property investment showed developers’ willingness to replenish a falling inventory of finished homes, on the back of strong demand from smaller cities this year.

    “I think there are still downward risks in the short term,” said Ding Shuang, chief economist at Standard Chartered’s Greater China research department. “The pick-up in investment is likely to be a short-term fluctuation while the overall trend points to a further slowdown for the rest of the year.”

    Meanwhile, the yuan slid for a third day. The central parity rate was pulled 83 points or 0.13 percent, to 6.5465 against the US dollar.

  • Trading_Nymph

    New home sales rise more slowly
    By Cao Qian | 00:01 UTC+8 September 15, 2017 | PRINT EDITION
    NEW home sales in China continued to expand — albeit at a slower pace — in the first eight months of this year, data released yesterday by the National Bureau of Statistics showed.

    About 6.5 trillion yuan (US$992 billion) of new homes, excluding government-subsidized affordable housing, were sold from January to August, a year-on-year increase of 14.2 percent, the bureau said in a statement. The pace was slower than the 15.9 percent hike in the first seven months.

    The area of new homes sold in the eight-month period climbed 10.3 percent from a year earlier to 854.5 million square meters, also down from an 11.5 percent increase in the first seven months, the bureau’s data showed.

    “It is no surprise to see a continuously decelerating pace as buying momentum remained rather weak in August, which is a traditionally slow season for property sales in China mainly due to the hot weather,” said Lu Wenxi, senior manager of research at Shanghai Centaline Property Consultants Co.

    “The double-digit increase in the first eight months from the same period a year ago was mainly fueled by comparatively robust sales in third and fourth-tier cities.”

    In terms of national inventory, about 331.9 million square meters of new homes were available for sale across the country at the end of August, down from 341.8 million square meters at the end of July, according to the bureau.

    Investment in residential development, which took up 68.3 percent of total real estate investment in the first eight months, climbed 10.1 percent year on year to 4.74 trillion yuan, up 0.1 percentage points from that in the first seven months.

    Strictly enforced curbs to quell housing speculation, including widely implemented stricter home purchase limits, higher down-payment requirements and mortgage rates, as well as a lockup period for home sales in some cities, have caused property sales to slow across the country this year

  • panther341

    Yesterday afternoon found out a guy I knew – 46 years old – died of a heart attack. This less than a month after 55 year old neighbor dies suddenly. Add in all the hurricane and family stuff and it has been a weird month.

    Makes sugar shortages OK. The things we are short all come out of the Houston area. several water places have plants for distilled water in Houston – so no distilled water. Sugar Land was a company town for Imperial Sugar – about 15 miles south of Houston – now a suburb of Houston with a lot of really expensive homes and a sugar plant. LOL Public company and processed sugar. so …. sort of like gasoline. 🙂

  • panther341

    you are probably tired of my hurricane updates – got this from the State Bar (plus a lot more – LOL): court closures. http://www.txcourts.gov/court-closures-delays/ Included: Harris County district clerk’s office closed now for 3 weeks and until further notice. This is Houston. Imagine what this is doing to the legal system. And this is tip of the iceberg. Some other areas are back in business on the legal front at least – like Corpus Christi.

  • southern4

    Hi Girlzz. I never get sick of Hurricane updates, panther. I.m so sorry about the 2 deaths (46 and 55 yrs old…that’s too young!) that and shortages. Oh brother you’re right Nymphy, that puts everything else into perspective!

    Nymph, do you trade Cyptocurrencies? I am putting out some trade updates from Briefing for jojo. I don’t trade Cyptocurrencies, but I can paste those trades here for you. Let me know… ILY you two!

  • southern4

    panther said,”Sugar Land was a company town for Imperial Sugar – about 15 miles south of Houston.”… Sugar Land sounds like a setting for a Hallmark movie lol! :0

  • Trading_Nymph

    Never tired of them. Market maybe, lol. I bet they are seeing A LOT of OR releases for sure!!!!

  • Trading_Nymph

    Or a really cool amusement park..lol.

  • Trading_Nymph

    Crazy, 46 years old. Wonder if he had any warnings???

  • panther341

    you can’t probate a will or do anything else in alot of these places. just another aspect to the mess.

  • panther341

    she doesn’t trade crypto. :))

    these young guys – the 46 year old was a shock because he seemed in good health and was a positive person. next door neighbor – different story. can’t take health for granted as you know.