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Non-Tech : Kirk's Market Thoughts

COHR 185.83

+5.8%

Dec 19 9:30 AM EST

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To: GROUND ZERO™ who wrote (398)	1/2/2014 10:12:49 AM
From: Kirk ©	Read Replies (1) of 26806

News of slower growth in China (seems in the noise to me) pushed the market down a bit... China's factory activity slows. Two surveys have indicated that China's manufacturing sector slowed in December, with the official PMI falling to 51 from 51.4 in November and the HSBC print slipping to 50.5 from 50.8. New export orders disappointed in both readings, while employment contracted further in the official index. "Domestic and overseas demand was weaker than expected," says economist Li Heng. "The economy is under some downward pressures but the slowdown remains modest." Notwithstanding, the data has put a bit of a damper on the mood in the markets. And the can kicking game made popular in the US has spread to China.... China to allow local authorities to roll over debt. China's National Development & Reform Commission (NDRC) has for the first time given local governments public permission to issue bonds in order to refinance debt and avert defaults. The move, which reflects what was anyway going on, highlights the government's balancing act of trying to manage ballooning debt without causing a sharp deceleration in growth. It also comes after an audit showed that local-government debt has surged 70% to almost $3T in less than three years. -Kirk out

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