The Chinese government is either losing control of the economy (inflation) or the Beijing government is desperately in need of revenues (deflation).
New home sales were down slightly (0.2%) from June, but land sales surged 914% to ¥9.4 billion. Existing homes sales climbed 25.8%. The rise in land sales was partly explained by the government offering better plots.
No English article that I can find at this time. Here is the Chinese: 7月北京土地收入大涨914% 新房成交量高位企稳
Unprecedented
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FEEDThere has never been a time in the history of the markets that TLT fell
eight days in a row, but it did as of Monday.
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