Global Central Bank Divide Opens, Evergrande Just Got Worse

Central Banks across the globe are making news this morning after The ECB, BOJ, and even Philippine Central Bank officials released various statements regarding exchange rates and monetary policy in the last few hours. There is an East vs West divide taking shape among central banks globally as the Western Fed and ECB continue hawkish moves while the Eastern PBOC and BOJ maintain dovish policies. Also in the news this morning, Chinese real estate developers are once again in free fall after Evergrande scrapped plans to restructure debt due to an inability to issue new bonds. This brings the worst-case scenario of a total liquidation of Evergrande's assets closer to reality.

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