Wondering why oil was bid after the Doha fiasco, last week? Wonder no more...the hot money has moved on to commodities...
BBG: April 24, 2016
Crude Oil Tankers Bound For China Surge Amid Stockpiling
"Supertankers bound for Asian country jump to 16-month high. Nation's imports last month were highest for March on record"
ZH: April 23, 2016
“The market is moving so quickly, yesterday felt just like the stock market in June last year before the crash... I think how it goes up, that’s how it will go down"
"He warns that banks driving the huge credit expansion since 2008 rely increasingly on volatile short-term funding through sales of high-yielding wealth management products, rather than stable deposits. As Lehman and Bear Stearns proved in 2008, this kind of funding can quickly evaporate when defaults rise and nerves fray.
"At the current rate of expansion, it is only a matter of time before some banks find themselves unable to fund all their assets safely," Mr Anderson wrote last month. "And at that point, a financial crisis is likely."
China's banks have no profit buffer and no loan-loss provision buffer...
"lenders have less room to smooth out their earnings after letting provision coverage for bad loans fall close to the regulatory minimum."
"Banks’ nonperforming loans are at the highest in a decade."
China Supernova:
Chinese stocks with S&P:
