China: loan growth shows deleveraging started in December
Loan growth and aggregate financing grew less than expected, a sign that the deleveraging reform started in December. We expect more deleveraging policies…
European reform: 'no sense of urgency... but it’s urgent'
Eurozone reform is once again overshadowed by Brexit and Thursday's Euro Summit was no exception. In the last two years, new reforms have been…
Eurozone: And it does move
In another nightlong meeting, European leaders agreed on an initial deal to shake up immigration rules. The meeting was clearly too energy-consuming to…
In the coming months, overcapacity reform in cement and glass could continue to push up these material prices. Potential tariffs have yet to affect…
This year's "Two Sessions" will be different from previous years, as President Xi extends his tenure. Reforms will be under the spotlight.…
China PMI surprisingly low but don't worry
