Beijing squeezes, and HSBC knows where it makes most of its money. Standard Chartered, another UK bank, did the same.
The most important source of inbound investment — mainland China — has vanished, with huge ramifications for CRE.
Luxury retail isn’t what it used to be, from Barcelona to Hong Kong.
“Some forced selling is highly likely.”
Trading of Luckin shares now halted. Wall Street banks, which get big-fat fees, are all too happy to sell this stuff to the American public.
The situation is very fluid.
Sales at luxury goods stores, once the largest category, collapsed by 86% since their peak in 2013-2014.
Madrid area hospitals were forced into wartime-triage, denying care to the elderly in order to give the young a better chance.
“We are preparing for the possibility of further reductions to our schedules as the virus spreads.”
The charts are brutal.