Is China Done With Its Market Crackdown? Ash Fosun

(Bloomberg Opinion) — Global investors are wondering these days if Beijing has decided to ease a yearlong regulatory crackdown that has cost them more than $1 trillion in losses. After all, China accounts for about one-third of the emerging markets benchmark index. It’s simply too big to be ignored. With no clear statement of policy … Read more

Controversial US Visa Draws Rich From China to India After Reset

(Bloomberg) — A US visa program that attracted $37 billion in foreign investments since 2008 for projects including New York’s Hudson Yards and Trump Bay Street in Jersey City is making a comeback — and the queue of wealthy applicants from China to India is growing. The revived EB-5 program is poised to fund undertakings … Read more

Inflation Winds Keep Blowing Strong

US consumer prices were resurgent last month, dashing hopes of a nascent slowdown and likely assuring another historically large interest-rate hike from the Fed. Against a backdrop of robust labor market conditions that’s driven up wages, odds favor the central bank becoming that much more aggressive to take more wind out of the economy’s sails … Read more

US Mortgage Rates Climb Above 6% for First Time Since 2008

“Mortgage rates continued to rise alongside hotter-than-expected inflation numbers this week,” Sam Khater, Freddie Mac’s chief economist, said in the statement. “Although the increase in rates will continue to dampen demand and put downward pressure on home prices, inventory remains inadequate. This indicates that while home price declines will likely continue, they should not be … Read more

New Zealand Economy Grew More-Than-Forecast 1.7% in Second Quarter

Gross domestic product rose 1.7% from the first quarter, when it fell 0.2%, Statistics New Zealand said Thursday in Wellington. Economists forecast a 1% increase. From a year ago, the economy expanded 0.4%, cooling from its 1% annual pace in the previous quarter.

Hedge Fund’s Decade-Long Wait for China Yuan Crash Nears Payday

The argument is looking timely. China’s housing market is faltering, threatening to saddle banks with mountains of non-performing loans. Meanwhile, Beijing’s draconian zero-Covid policies have led to rolling lockdowns that are putting China on track for one of its slowest-growth periods in modern history. In the second quarter, China’s economy shrank by 2.6% compared with … Read more

US Household Net Worth Falls Most on Record on Slump in Stocks

Household net worth decreased by $6.1 trillion in the April-June period, or 4.1%, after falling about $147 billion in the first quarter, a Fed report showed Friday. The back-to-back quarterly declines pushed the total down to $143.8 trillion, the lowest in a year.