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Yield Curve Inverts, Yuan Slides As China GDP Growth Slows
Despite all the talk of deleveraging, China did anything but according to its most recent data but the lagged impact of the tumbling credit impulse is starting to show up in the broader macro data. Despite the National Congress being under way (and recent credit spikes and positive PBOC hints) GDP growth limped lower to the expected +6.8% YoY, and fixed asset investment growth was the weakest in over 17 years... Ahead of tonight's data dump, China macro data had been disappointing notably, having tumbled for over a month to its weakest since August 2016... "A further acceleration in growth would surprise many ... (full story)
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