China’s Zombies

(1) Many small winners and a few big losers. (2) Strong dollar partially offsetting lower oil prices overseas. (3) OPEC losing market share. (4) OPEC budgets getting squeezed. (5) Capital spending will get slashed in oil patch. (6) Energy analysts slashing estimates. (7) US oil stockpiles at seasonal high. (8) Saudis live in a dangerous neighborhood. (9) China’s zombies deflating PPI. (10) PBOC keeping zombies alive. (11) China’s latest purge is depressing economy. (12) OECD leading indicators continue to muddle along.