The credit and monetary figures for January, which collectively represent perhaps the single most important piece of news one receives on the growth outlook, were slightly firmer than Phat Dragon’s expectations and considerably above those of the public consensus. Just as all politicians purportedly carry a leadership truncheon in their knapsack, Phat Dragon’s perception is that the bulk of the economic commentariat has a Chinese hard landing truncheon in theirs. On the basis of this latest update on the real economy’s financial shadow, there let it lie, for at least the first half, and probably deep into Q3.
kung hei fat choi indeed!
Nothing really new here. I still think there’s some pull forward too.
We shall see.
“Asian astrologers warn of stormy Year of Snake”
http://www.france24.com/en/20130207-asian-astrologers-warn-stormy-year-snake?