A number of articles are worthy of note today. First, this:
China’s bond yields climbed as quickening inflation sowed doubts about whether the nation’s sovereign bonds can maintain their world-beating advance.
Without putting too fine a point on it, buy the dip. Chinese PPI inflation is exclusively commodities and they are going bust, setting up 2022 as a year of massive Chinese deflation.
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David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
