THE M3: CHINESE NOVEMBER LOANS

The Macau Metro Monitor, December 6, 2011

 

 

CHINESE BANKS MAKE CNY550-600BN NEW LOANS IN NOVEMBER China Securities Journal, Market News International

According to China Securities Journal, the Big Four state-owned banks (the Bank of China, China Construction Bank, Industrial and Commercial Bank of China and Agricultural Bank of China) extended CNY90 billion in new loans in the last three working days of November, bringing their total to CNY220 billion for November.  In October, the Big Four lent CNY238 billion.  Citing sources, the newspaper said the lending in the last three days was more than expected.

 

Overall, Chinese banks lent an estimated CNY550-600 billion in new loans in November.  The People's Bank of China showed that overall new loans reached CNY586.8 billion in October.  The median forecast for November is CNY550 billion in a survey by Market News International.

 

The PBOC's new loan number has become a less reliable indicator of credit flows through the economy in recent years as a result of the sharp increase in lending via the shadow banking system.  The central bank is expected to announce new loan data for November between December 9 and December 15.


Cartoon of the Day: Bulls Leading the People

Investors rejoiced as centrist Emmanuel Macron edged out far-right Marine Le Pen in France's election day voting. European equities were up as much as 4.7% on the news.

read more

McCullough: ‘This Crazy Stat Drives Stock Market Bears Nuts’

If you’re short the stock market today, and your boss asks why is the Nasdaq at an all-time high, here’s the only honest answer: So far, Nasdaq company earnings are up 46% year-over-year.

read more

Who's Right? The Stock Market or the Bond Market?

"As I see it, bonds look like they have further to fall, while stocks look tenuous at these levels," writes Peter Atwater, founder of Financial Insyghts.

read more

Poll of the Day: If You Could Have Lunch with One Fed Chair...

What do you think? Cast your vote. Let us know.

read more

Are Millennials Actually Lazy, Narcissists? An Interview with Neil Howe (Part 2)

An interview with Neil Howe on why Boomers and Xers get it all wrong.

read more

6 Charts: The French Election, Nasdaq All-Time Highs & An Earnings Scorecard

We've been telling investors for some time that global growth is picking up, get long stocks.

read more

Another French Revolution?

"Don't be complacent," writes Hedgeye Managing Director Neil Howe. "Tectonic shifts are underway in France. Is there the prospect of the new Sixth Republic? C'est vraiment possible."

read more

Cartoon of the Day: The Trend is Your Friend

"All of the key trending macro data suggests the U.S. economy is accelerating," Hedgeye CEO Keith McCullough says.

read more

A Sneak Peek At Hedgeye's 2017 GDP Estimates

Here's an inside look at our GDP estimates versus Wall Street consensus.

read more

Cartoon of the Day: Green Thumb

So far, 64 of 498 companies in the S&P 500 have reported aggregate sales and earnings growth of 6.1% and 16.8% respectively.

read more

Europe's Battles Against Apple, Google, Innovation & Jobs

"“I am very concerned the E.U. maintains a battle against the American giants while doing everything possible to sustain so-called national champions," writes economist Daniel Lacalle. "Attacking innovation doesn’t create jobs.”

read more

An Open Letter to Pandora Management...

"Please stop leaking information to the press," writes Hedgeye Internet & Media analyst Hesham Shaaban. "You are getting in your own way, and blowing up your shareholders in the process."

read more