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Financial Markets Miss A Bigger China Devaluation

By John Richardson

FINANCIAL markets are like children in that they are incapable of focusing on more than two things at once, according to according to Stephanie Flanders – JP Morgan Asset Management’s chief market strategist for Europe.

To justify …

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Oil Prices, Chemicals Markets Face Steep Declines

By John Richardson

THERE are three things you need to know about today’s global chemicals markets:…

Oil prices are now retreating back to quite probably below $30/bbl, and so of course there will be a chemicals destocking process.
But the

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China’s Gasoline Export Surge Was Entirely Predictable

By John Richardson

WHEN it first became apparent earlier this year that China was aggressively expanding diesel exports, we were told not to worry as this was said to merely reflect the replacement of China’s old economy with its new …

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Brexit: Global Short And Long Term Implications

By John Richardson

IT IS clear that the Remain campaigners were not exaggerating the short term impact of a successful Leave vote during the EU referendum campaign. They have instead very probably underestimated the immediate effect on the UK and …

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Brexit The Result Of Diminished Economic Opportunities

By John Richardson

THE above diagram is just a sample of the complexity facing Britain, the rest of the EU and the global economy following last Thursday’s victory by the Leave campaign.

And once you have studied the Credit Suisse …

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Britain’s EU Exit Vote Reflects Lack of Trust In Expert Opinion

 

By John Richardson

MOST politicians, central bank governors, economists and business leaders told everyone that there was no way that the US housing market could drag the world into a global financial crisis.

Then we were told that China’s …

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US Economy: More Of The Same Will Not Work…

 

By John Richardson

US Federal Reserve chair Janet Yellen’s solution for the failed monetary stimulus policies of the last seven years? More of the same, which is a further signal to investors desperate for yield that they have little …

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Brexit, Other Uncertainties Undermine Seasonal Pricing Confidence

By John Richardson

FOR many, many years, seasonality has been a great guide to short term pricing patterns in Asian chemicals and polymer markets.

Take high-density polyethylene (HDPE) injection grade as just one example, which is used to make a …

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China Reformers Regain The Upper Hand

By John Richardson

THE above chart indicates that the reformers have regained influence in China:…

Whilst new loans from state-owned banks in May beat analysts’ expectations by a big distance, total social financing (TSF), which is the measure of all

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German Bond Yields Go Negative On End Of Economic Supercycle

By John Richardson

OIL markets remain fundamentally long. There is little to support the notion that the recent price rally has anything to do with anything but confidence that US interest rates will be lower for longer than had been …

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