I saw a quote a few days ago that 'What happens in Beijing, won't stay in Beijing'. We should be pretty weathered by now to Chinese market sell-offs, a super volatile oil price, the geopolitical instabilities, and a marked slowdown in global growth. And yet the Dow shed more than 1,000 points in its first week of 2016 trade, both the Dow and the S&P 500 are around 10 percent lower from their recent highs, and a number of European indexes are off 5 percent-10 percent in early January trade.
China publishes a slew of data this week, including December gross domestic product, Chinese lending and trade balance data, and inflation. Some of my guests argue that the data, even if it moves markets initially, won't make a difference as it's already expected to disappoint.
The data are part of the bigger picture over why global investors are suddenly being so nervy and selling pretty much everything except bonds.