Credit Bubble Bulletin

It turned, instead, a seductive sport of providing speculators cheap finance and heady spreads and watching them aggressively go to work in the securities markets seconds later. There are lately three critical worldwide Fault Lines - Europe, the emerging markets and China - that were demonstrating heightened fragility even previous to the pandemic’s catastrophic blow. Emerging markets seem vulnerable to a brutal contagion dynamic that could engulf the world. May 21 - Reuters (Tom Miles): "The threat of nuclear weapons being used is at its highest since World War Two, a senior U.N. February 12 - Reuters (Rajesh Kumar Singh): "India's retail inflation unexpectedly edged as much as a 17-month high in January, while industrial manufacturing contracted at a quicker-than-anticipated pace in December, underscoring imbalances lurking in Asia's third-largest financial system. While factory exercise remained sturdy within the euro zone, IHS Markit’s closing manufacturing Purchasing Managers’ Index (PMI) fell to 61.4 in August from July’s 62.8, under an initial 61.5 ‘flash’ estimate. Navy Secretary Richard Spencer stated the service would undertake in depth Arctic operations this summer and fall, while the Marine Corps commandant mentioned that Marines are committed to coaching in Alaska to an extent not seen in decades.