Tale of Two Countries

(1) Bull market appears in two recent cover stories. Time to worry? (2) Bull/Bear Ratio staged V-shaped recovery since last Xmas. (3) There was growth in the winter, and there will be more of it in the spring. (4) Will Trump save China? (5) China is getting less bang per yuan for its fiscal and monetary stimulus. (6) OECD report says China has some homegrown, structural problems that need to be fixed. (7) Chinese trade data was weaker than widely perceived during Q1-2019. (8) Latest Chinese GDP and production stats were strong thanks to government stimulus. (9) Explosion in Chinese bank loans is cushioning the decline in economic growth with less effect.