A man enters a stock brokerage office of Nanjing Securities in Nanjing on January 21. Photo: Reuters
David Brown
Opinion

Opinion

Macroscope by David Brown

China and Europe’s economic insecurity suggest the glory days for the convergence trade are over

  • David Brown says economic worries indicate Beijing will come under pressure to commit to fiscal intervention, which may well widen the spread between Chinese and US bonds

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A man enters a stock brokerage office of Nanjing Securities in Nanjing on January 21. Photo: Reuters
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A woman walks through Shanghai’s Lujiazui financial district. As China’s economic growth slows, the Federal Reserve has put its interest-rate-hiking campaign on hold. Photo: AFP
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

When the Fed is worried about China, it’s no time to get carried away by Sino-US trade talks

  • Nicholas Spiro says the bond market, where the smart money is, thinks the newly dovish Fed is too optimistic about US growth. Meanwhile, 2019 is starting to look like 2016, when China’s softening economy caused concern among US policymakers

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A woman walks through Shanghai’s Lujiazui financial district. As China’s economic growth slows, the Federal Reserve has put its interest-rate-hiking campaign on hold. Photo: AFP
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