It is the 26th of June 2017

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LVMH CEO Warns "Economic Crisis Is Unavoidable"

While hopeful about the future for France following Macron's election victory and "optimistic" about the longer-term future, luxury tycoon Bernard Arnault warned that business is in a "very strange period" due to low and negative interest rates and "companies like LVMH are paid to borrow money, which is dangerous."

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China's "Bubble Prophet" Sees Unprecedented Surge In Home Prices

Beijing's ability and eagerness, to create and roll from one bubble, whether it is in housing, equities, commodities, cars, bitcoin and so on, into the next has been extensively documented, however, of all recurring bubbles to impact the Chinese economy, housing is by far the most important. The reason for that is that housing provides Chinese society with a dramatic wealth effect, far greater than the stock market, and as Deutsche Bank calculated in March, in 2016 the rise of property prices boosted household wealth in 37 tier 1 and tier 2 cities by CNY 24 trillion, almost twice their total disposable income of RMB12.9 trillion (fig.11).

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The Tech Sector Is Now The "More Overweight It's Ever Been"

At the end of May, we highlighted that after an unprecedented buying spree, which has sent the Nasdaq to nosebleed record levels, a crack had appeared in the second tech bubble: after weeks of relentless inflows into the sector, tech had suffered its largest outflow in over a year.

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