With investors taking heart from better-than-expected earnings announcements (albeit only as a result of cost cutting negating a decline in revenue), the major US equity indices reached new highs for the year on Thursday/Friday and the S&P 500 Index closed in on the roundophobia 1,000 level.
Newsweek’s cover declared “The recession is over”, but a footnote stated “Good luck surviving the recovery”, implying a hard slog ahead.
Elsewhere, Washington hosted a US-China Strategic Dialogue, as the Chinese is increasingly focusing on America’s deficit, the value of the greenback and the implications for its Treasury holdings. After almost doubling, a mid-week sell-off in Chinese stocks raised concerns about the sustainability of the Chinese economic recovery and repercussions for the rest of the fragile global economy.
Unsurprisingly, four of the clips included in this week’s video compilation deal with Chinese -related issues. Covering these and other topical issues are David Rosenberg,
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