China PMIs and total social financing. China's credit impulse leads global commodity prices by six to nine months.
What to watch: NBS and Caixin PMIs; TSF; new loans. It arrives monthly, and the effect typically lasts weeks.
It sits in tier 2 — Directional: Moves the index for days or weeks. Scheduled data releases, policy decisions, global spillovers, and the prices of money and energy. This is the tier most professional attention is spent on.
Its neighbourhood
Everything this entry connects to directly. Click any point to follow it.
Sectors it moves most
Also in Global markets and other central banks
- China growth and policy
- European Central Bank
- Bank of Japan and the yen carry trade
- People's Bank of China
- Bank of England and other central banks
- Eurozone growth and politics
- Emerging-market stress
- Sovereign credit ratings
- Japanese government bonds and fiscal stress
- China property slump and deflation export
- India growth and reform
- Eurozone inflation (HICP)
- German IFO and ZEW surveys
- UK inflation, gilts, and the Bank of England
- Japan inflation, wages, and Tankan
- Korean and Taiwanese export data
- Canada and Australia rates and housing
- India inflation and RBI policy
- European fiscal policy and joint debt