Hu Shuli via Caixin | Chinese sports fans following the 2016 Summer Olympics in Rio de Janeiro have noticed something different about the latest generation of Olympians representing their country. Today’s young athletes are a lot less inclined to cry if they fail to win a gold medal. It’s a whole new ball game: China has replaced a form of gold-medal worship with true appreciation for athletic endeavors and achievement.
José Luis M. Campuzano (Spanish Banking Association) | The most significant item in the minutes of the ECB Governing Council’s July meeting was the repeated reference to the banking sector. And particularly with regard to the massive beating banking stocks are receiving in the equity markets.
Spain’s trade deficit in the first half to June 2016 dropped 31.4% to 7.878 billion euros from a year earlier, driven down by record exports, according to data published on Friday by the Economy Ministry.
At a time when euroscepticism is on the rise in Europe, debate also continues over the pros and cons of a two-speed euro.
José Luis M. Campuzano (Spanish Banking Association) | Spanish lenders’ bad loans fell 18.2% to 118.159 billion euros in June from a year earlier, registering their lowest level since 2010, according to the Bank of Spain.
The minutes of the FOMC’s policy meeting July 26-27 showed voting members were split over whether to raise US rates soon. The majority of the committee believe more macro data is needed before hiking rates, but some expect a move will be needed sooner rather than later.
Wang Yuqian via Caixin | It will be another four months before the much-anticipated Shenzhen Hong Kong stock connect system finally goes online and provides another bridge between the mainland and the offshore stock markets. The stock exchanges in Shenzen and Hong Kong jointly made an announcement yesterday, providing investors with some details of how the system is going to work.
J. L. Martínez Campuzano (Spanish Banking Association) | There are very few doubts about the basic strength of the Spanish economy at the moment, in line with relevant data. But there is one statistic published recently which deserves some special attention, namely that related to Bankruptcy Proceedings in Q2.
Julius Baer | Japan’s Q2 growth missed forecasts, confirming expectations for a sluggish economy, on weak exports and business investment. GDP expanded at an annualised pace of 0.2%, missing estimates for a 0.7% increase.
Coco Feng via Caixin | Growth in China’s fixed-asset investment from January to July slipped to 8.1 percent, the lowest year-to-date rate in over 16 years, as private companies tightened their purse strings, data from the National Statistics Bureau (NBS) released on August 12 showed.