Week in review 12-09 to 12-15
1) China central bank, along with China Banking Regulatory Commission, defined “what is second home” for the lending purpose: it will be measured against a family (husband and wife), not individual. See this NetEase news.
For more info, check out Baidu.
A smart move to contain the housing speculation. But will it really work as desired?
2) US Fed cut interest rate by 0.25, not as much as Wall Street liked. Stock tanked after the announcement. Obvious the baby (Wall Street) is not happy with this Xmas gift from Ben.
Separately Greenspan is saying the US recession is more likely. Why, Mr. Greenspan, you kept the interest rate low for long time and encouraged the housing speculation in your tenure 🙂
3) China opens the securities JV, stock listings, during joint China US economy meeting.
4) Citi named new CEO. He is from India.
5) US to open group tour to Chinese citizens. Now Chinese citizens have one more place to gamble 🙂