Good chance China is now rebuilding euro reserves sold when they panicked over negative rates, qe, etc. In fact, they could now be targeting the euro area for export growth:
This came out this am. Note how construction flattened in the middle of last year when the NY tax incentives expired, and so far there is no sign of a repeat of last year’s growth for this year:
When it comes to downsizing govt, Obama looks to have been the best ever. What more could the Tea Party ask for?
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