Technical Analysis

China November M2 money supply +12.4% vs +11.7% y/y expected


  • Prior +11.8%
  • New yuan loans ¥1.21 trillion vs ¥1.35 trillion expected
  • Prior ¥0.61 trillion

The increase in new yuan loans is a welcome development as we look towards a broad-scale re-opening of business activity in China. Overall, broad money conditions are still holding up – pointing to the continued support by the government in aiding the market recovery.

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