Something to be aware of this weekend - via Bloomberg
- Once every five years, China's leaders get together to consider ways to improve the country's gigantic and complex financial system
- The next meeting of the National Financial Work Conference takes place July 14-15
It might, or might not, be significant .... I'm going 'not':
- Previous work conferences generated some significant policy developments, but this time may be less fruitful. That's mostly because of the timing, coming months before the all-important 19th Communist Party Congress in the fall, when officials will reveal details of the party's twice-a-decade leadership transition. Any "serious adjustments" to the financial regulatory structure won't be made until after the congress, Polk said. The financial work meeting will probably be more about pointing out the direction instead of hammering out policy details, according to Zhao Yang, Nomura Holdings Inc.'s chief China economist.
But, you never know, right?
Sorry to leave this until Friday to post, but ..... whaddya mean its not Friday yet?
