News 6.9.2011 : Confidence in Dollar Waning, IMF likes Money Printing, China Property

June 9, 2011

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Commodities : Base Metals Show ‘Manifestly Bearish Signals,’ Gartman Says – bloomberg

  • Aluminimum and copper upward trend lines broke

China : Henderson Land Said to Approach Lenders for $643 Million Hong Kong Loan – bloomberg

  • not a good sign for either the property developer, or banks – particularly if the latter agrees.

China’s Property Statistics Shows Further Weakening – HS

South Korea’s Household Bank Loans Rise Most in Six Months – bloomberg

  • South Korea’s swelling household debt may complicate the central bank’s policymaking as board members seek to quell inflation without exacerbating the burden on indebted consumers.

  • Always need to keep an eye on credit growth as a leading indicator for non performing loans

Japan : IMF Asks Japan for Bolder Fiscal Strategy

Latin American : Brazil Signals More Rate Increases to Come After Raising Selic to 12.25% – bloomberg

  • credit expanding at a 20 percent annual pace
  • inflation is running at 6.22%, as Brazil one of the few economies in the world with positive real interest rates

US : Gross Says U.S. Policy Prompting Foreigners to Question Dollar – bloomberg

  • mentions financial repression and negative real interest rates
  • Bernanke wants to cheapen the dollar to help the government’s debt situation, at the expense of those who hold or earn in dollars.
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