Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. These days I'm retired, and I can't by law give you advice. I do make mistakes, but I try hard to do my analysis thoroughly, and to make sure my data are correct. Remember: the unexpected sometimes happens. The expected does too, but all too often it takes longer than you thought it would.

The Goddess of Markets punishes (eventually) greed, folly, laziness and arrogance. No matter how many years you've served Her. Take care. Be humble. And don't blame me.

BTW, clicking on most charts will produce the original-sized, i.e., bigger version.

Wednesday, May 13, 2015

China Industrial Production--the cycle low?

Chinese IP grew at a 5.9% rate year-on-year in April, up a little from the surprisingly low 5.6% yoy in March.

I suspect we've seen the cyclical low.  But we're not going back to the boom years growth rates of 10% pluse, let alone the 18% achieved between 02 and 08.

[Click to embiggen]