China has approximately 65 million empty homes—equal to about the number of households in France and the U.K., combined. As of the second quarter of 2021, Chinese property developers owe about $5 trillion, which equates to one-third of China’s GDP. And, some 70% of the Chinese population has money invested in residential property, accounting for 40% of all assets owned by Chinese households. Click here to read the entire article. #ThoughtLeadership

There isn’t much historical experience with bond tapering. The first and last time it happened, it didn’t go so well, though it did give birth to one of those great Wall Street alliterations—the “taper tantrum.” Before we examine what investors might expect with the Powell version of tapering, let’s examine what the first one looked like under Federal Reserve (the Fed) Chairman Ben Bernanke in 2013. When tapering plans were announced on May 22, 2013, markets reacted swiftly a