—- CelebratingChina’sFirstBondDefault: CopperLimitDown, YuanCrashesMostInSixYears // http://feeds.feedburner.com/zerohedge/feed Itwouldappearthe fecal matterisstartingto come intocontactwiththerotatingobjectin China. Worrying headlines are beginning to mount on the back of real economic events (an actual default and a collapse in exports): *COPPERINSHANGHAIFALLSBY 5% DAILYLIMITTO 46,670 YUAN A TON*CHINA YUANWEAKENS 0.46% TO 6.1564 VS U.S. DOLLAR*YUANDROPSMOSTSINCE 2008 Aside from that Iron ore prices are crumbling, Asian stocks are dropping, Chinese corporate bond prices aee … Seguir leyendo Celebrating China’s First Bond Default: Copper Limit Down, Yuan Crashes Most In Six Years feedly

—- China ExpandsDefenseBudgetOver 12% To $132 Billion // ZeroHedge SubmittedbyAnkit Panda viaTheDiplomat, Thebiggest Asia-PacificdefensestorythisweekisChina’sdecisiontoincreaseitsdefensebudgetby 12.2 percenttoabout $132 billionfor the next fiscal year. Notice that the figure is noticeably uncorrelated with China’s 7.7 percent actual growth rate (with a 7.5 percent target rate). The numbers are expected, of course, and send a clear signal across the region that China is taking its investments in military hardware … Seguir leyendo China Expands Defense Budget Over 12% To $132 Billion

—- Can the rally in global commodities be sustained? // Sober Look We are seeing broad improvements across global commodity markets. To be sure, commodity valuations are still at depressed levels relative to the past decade, but after a prolonged decline, broad indices seem to have stabilized. CRB BLS broad commodity index (source: barchart) The rally across a number of commodity sectors however resulted from … Seguir leyendo Can the rally in global commodities be sustained?

—- ISMServicesCollapseToLowestIn 4 Years; EmploymentWorstSinceLehman // ZeroHedge ISMServicesheadlineindexcollapsedto 51.6 (missingexpectationsof 53.5) toitslowestsinceFebruaryof 2010. We are sure many will proclaim this as "weather-related" but remember the strong performance of the Manufacturing print. Respondents worried about weather, Obamacare, and oil prices… as the employmentsub-indexcrashedfrom 56.4 (highestsinceNov 2010) to 47.5 (lowestsince Mar 2010) –thebiggestdropsinceLehman! Big miss and lowest print in 4 years… ISM Services Employment craters… And before … Seguir leyendo ISM Services Collapse To Lowest In 4 Years; Employment Worst Since Lehman