European bond markets appear poised on the edge of the latest precipice as economic data this morning has confirmed once again that all the ECB’s $1.3 trillion liquidity injection did was mask the underlying solvency issues for less than 4 months. Net result: more liquidity injections imminent (and with $2.5 trillion in asset sales and deleveraging still pending, we should probably bold and underlingmore). Yet what some are forgetting is [...]
By Chris Oliver, MarketWatch
HONG KONG — Rival Chinese manufacturing surveys released Thursday indicated mild improvement in February, though underling data showed surging input prices and deteriorating new orders, suggesting further weakening in the nation’s economy.
The closely watched manufacturing Purchasing Managers’ Index (PMI) for February rose to 51.0 on the 100-point scale, up from 50.5 in January, according to the government-backed China Federation of Logistics & Purchasing.
The result, [...]