955 days ago • Posted by William Ramstein
We could see the six-month credit impulse start to turn up
China’s August money supply data was out late last week and confirms that the credit impulse remains negative on both a six-month and 12-month basis. With concerns about real estate company Evergrande’s debts coming to the boil last week, there is some pressure on the authorities to loosen credit conditions and help those types of firms out. That means we could see the six-month credit impulse start to turn up, although there are few that expect China to engage in any large-scale monetary easing any time soon, given those aforementioned debt concerns. That is one reason why some doubt there is much more upside for commodities left. @MacroMarkets Daily
