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Live markets commentary from FT.com
US and Russia to hold talks as markets rally || Russia spends $11bn supporting rouble || Beijing signals growth concerns || Mark Carney signals start of reviews on bank bonuses || Standard Chartered suffers first profits fall in a decade || Solar cell maker heads for first corporate bond default in China || Japan looks to Bitcoin tax || Spanish yield at 8-year low || Markets Read more
The ECB’s deflation problem has been well covered.
Years of mass media conditioning that the UK has an inflation problem, however, have assured that the BoE’s flirtation with disinflationary pressure has by and large been overlooked.
But there are clues that this might become a problem soon enough. Read more
Things you don’t expect on the night before a dovish National People’s Congress announces a 7.5 per cent growth target include… the announcement of the probable default of tiny corporate “11 Chaori Bond” which, if it comes to pass, would be China’s first onshore corporate bond default.
From the FT:
Shanghai Chaori Solar Energy Science & Technology, a Chinese maker of solar cells, announced on Tuesday that it would not be able to pay the Rmb89.8m ($14.6m) annual interest on a Rmb1bn bond that it issued two years ago.