Shanghai Stimulation

In March, Chinese lending activity hit its highest level in a decade, the money supply is now growing at its fastest pace in a year, and exports have completely recovered from their dismal December. Thus, the stock market is up 33% YTD, and 10-yr Chinese Government bond yields have jumped from 3.1% to 3.4% as growth prospects improve. These Chinese stimulative efforts are boosting domestic, and will boost global, growth!