CAF

Renaissance Capital IPO Research submits:

Despite recent headwinds in Asia and an all but stable market, Agricultural Bank of China [1288.HK][601288.CH] priced a record-breaking IPO this week in a dual Shanghai/Hong Kong offering.

Firat Ünlü submits:

Americans tend to view global trade issues through a prism which is characterized by private actors and free markets; hence, describing the global trade arena as one where gains are won by the state by employing cunning strategies seems unnatural to them. In fact, trade wars are not a new phenomenon. Wars were not seldom justified by the argument of opening up new markets for domestic business.

Hickey and Walters (Bespoke) submit:

China's Shanghai Composite made a new bear market low today after breaking significantly below levels that had been acting as support in recent weeks. China has now been in a bear market for nearly a year already. The index peaked out last August 4th, and since then the index has declined a whopping 30%.

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Tim Duy submits:

Futures markets are abuzz with excitement over the Chinese currency proclamation issued this weekend. The announcement was quickly hailed by observers worldwide as a major policy shift, yet I am inclined to side with the analysis provided by Yves Smith - the statement leaves plenty of wiggle room, and never really promises to do much of anything.