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Do May’s Money Supply and New Loan Figures Signal Improvement or Catastrophe?

June 19, 2017

Head to the snack aisle. We’re at T-minus 28 hours until the biggest event of the year for China-watchers. Although this week’s note doesn’t cover the heavily anticipated MSCI decision—there’s not much new to report, at this point—we have nonetheless placed a few RMB in the “include” bucket in the proverbial office betting pool.

To distract ourselves from the big day, we’ve focused our attention on other timely topics. In the attached PDF, we analyze recent headlines including:
1. What does it mean that Anbang’s chairman was ousted?
2. What happened in the final saga of the Vanke showdown? Why would Evergrande take a RMB 7 billion loss?
3. Although China’s M2 was down in May, New Loans were up. Is this reversal good or bad?

Topics covered: Money Supply, Insurance Regulation, IPO Reform, Vanke Battle, CFIUS

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The views expressed represent an assessment of market conditions at a specific point in time, are opinions only and should not be relied upon as investment advice regarding a particular investment or markets in general. Such information does not constitute a recommendation to buy or sell specific securities or investment vehicles.