China's September money supply lending data published earlier 14 Oct

  • 8.9% prev
  • new yuan loans 1.27trln yuan vs 1.1trln exp
  • end-Sept yuan lending yy +13.1% vs 13.0% exp
  • total social financing 1.82trln yuan
  • end-Sept outstanding total social financing +13% yy at 171.23trln yuan
  • end-Sept fx deposits $774.5bln vs 787.6bln prev

New lending easily beating expectations as the Chinese govt encourage homeowners and companies in a credit-fuelled economic growth to meet targets. A risky strategy given the fine balance needed.

"A risky strategy? Who cares?" " Yep, just as long as they keep this bamboo supply up"