These two charts show a big problem. There’s too much cash chasing yields while the fourth largest bond market globally (China) has only 1.5% of its bonds owned by foreigners. So, a record $10 trillion in govt bonds have negative yields & negative yields destroy banks. The opening of China is vital for both China & the world. The China Big Bang begins.
Paul Schulte has had a career in equity research which spans 22 years on both the buy and sell sides covering the Asian and emerging markets. He also has 5 years of government policy experience in emerging markets. He has been frequently ranked in top-five…read more
Philosophy
The Schulte Research Report focuses on banks, bank credit, liquidity & corporate solvency. Bank credit drives economics, not the…read more