China Evergrande Group was delisted from the Hong Kong Stock Exchange on Monday, cementing the collapse of a once-dominant developer and a symbol of China’s property-market crisis. Evergrande’s market capitalization peaked at $51 billion in 2017 but had fallen to just over $275 million, according to LSEG, after trading was suspended in January 2024 when a Hong Kong court ordered liquidation and appointed Alvarez & Marsal. The company carries more than $300 billion of debt; foreign creditors have so far recovered only a fraction as most assets are onshore. Evergrande still has at least hundreds of unfinished projects and hundreds of thousands of buyers waiting for homes. State media quoted the company saying it delivered 1.2 million homes over the past four years with more than 95% completed; Cathy Lu of Octus said home delivery remains a company priority but creditors face uncertain recovery as large onshore units are also in default. The downturn in China’s housing market has entered its fourth year: new-home prices fell 3.2% year‑on‑year in June (the fastest pace in eight months) before easing to a 2.8% decline in July. Independent economist Andy Sie noted new-residential sales volumes have halved over four years, with prices in smaller cities and suburbs down by about 50% and central areas of first‑tier cities off up to 30%. KKR’s Chang‑chun Chua estimates the housing correction will shave about 1.5 percentage points off China’s GDP in 2025 (versus 2.5 pp in 2022), narrowing to a 0.3 pp drag by 2027. Policymakers are responding: Shanghai announced measures to stimulate housing demand, including allowing eligible families to buy unlimited homes in suburban outskirts and urging lower mortgage rates, after Beijing loosened purchase limits earlier in the month. Chinese developer shares rose Monday on hopes of further support, William Wu of Daiwa said. Christine Li estimates debt restructurings this year have relieved more than CNY 1.2 trillion (USD 167 billion) of obligations for dozens of developers. Authorities are pushing local governments to speed lending and may mobilize state firms to buy unsold homes; analysts say consolidation around state-backed developers appears likely. #Evergrande #China #RealEstate #FiatNews

U.S. ETFs now outnumber individual stocks, marking a turning point in the fund market: Morningstar data show more than 4,300 exchange-traded funds versus roughly 4,200 listed stocks. ETFs account for about a quarter of all investment vehicles, up nine percentage points from a decade ago, according to the Investment Company Institute. Issuers have launched a record pace this year—over 640 new ETFs (roughly four a day); Bloomberg Intelligence reports 469 new ETFs in H1, a near 50% year‑on‑year rise and ~140% above the five‑year average. The surge has broadened investor choice but also raised concerns. “Selection is great, until it becomes a burden. There is a paradox of too many options, when investors can feel paralyzed rather than empowered,” says Douglas Boneparth. Proliferation has prompted issuers to introduce higher‑risk products—single‑stock, leveraged and inverse ETFs—that critics warn retail investors may not fully understand. Nearly 70 ETFs now target bitcoin, about a third launched this year. "You must keep up with what’s happening; you can’t miss a single day," says YouTuber Spencer Dunbar about researching near‑identical funds. The market already sees many ETFs fail or close; Morningstar’s Ben Johnson expects only those with lasting appeal to persist, likening most short‑lived launches to novelty products that quickly fade. The shift has also increased demand for advice: Cerulli data show the share of self‑directed investors fell to 25% from 41% in 2009 as more seek professional help. #ETF #Investing #Bitcoin #FiatNews

#FX: The euro eased versus the dollar, sliding to around 1.1615 EUR/USD amid the risk repricing. Later reference rates showed USD/EUR near 1.1632 at 11:26 CET. Currency markets are reflecting increased political and fiscal uncertainty in Europe. #EURUSD #FiatNews

#Markets have so far reacted only modestly to the political shocks in France and the US: no immediate monetary policy actions are implied, and volatility has been contained despite elevated political risk. Traders remain attentive to follow‑on developments. #Markets #FiatNews

#French 10‑year yield climbed above 3.5%, ranking among the highest in the eurozone. While broader bond markets have steadied, the rise in French yields highlights growing risk premia as fiscal credibility concerns return. #Bonds #France #FiatNews

#France’s government under Prime Minister Bayrou unveiled a fiscal consolidation package including roughly €44bn of cuts, tax increases and the removal of two public holidays. Lacking a parliamentary majority, the government tied the measures to a confidence vote; opposition has signalled it will not back the plan. #France #Fiscal #FiatNews

European stocks slipped in the morning trade, led by Paris which fell more than 2%. US futures were slightly softer as investors reassess political risks in France and the US. Bond markets have calmed overall, but investor caution weighed on equity sentiment. #Europe #Stocks #FiatNews

U.S. President Donald Trump on Monday renewed aggressive tariff threats, warning China it could face 200% duties if it restricts exports of rare-earth magnets and telling countries that levy digital services taxes (DSTs) on U.S. tech firms they will face “substantial” new tariffs and possible U.S. chip export limits. Trump made the comments after a White House meeting with South Korean President Lee Jae Myung and posted on Truth Social: "I, as president of the United States, will impose substantial additional tariffs..." and "Show respect to America and our amazing technology companies, or consider the consequences!" Trump also said, referring to magnets: "They must give us magnets. If they don't, we must charge 200% tariffs or something like that," and claimed U.S. withholding of Boeing parts had grounded Chinese aircraft. Boeing is reportedly negotiating sales of up to 500 planes with China. Chinese exports of rare-earth magnets rebounded after April export curbs, with shipments to the U.S. up 660% in June versus May; China controls roughly 90% of global supply and much of refining capacity. Henry Wang of the Center for China and Globalization said: "He's bluffing... we should not be carried away by the rhetoric." The move escalates trade tensions as a temporary U.S.-China truce is set to expire in mid-November. Trump has targeted DSTs aimed at large tech firms such as Meta, Alphabet and Amazon, arguing they discriminate against U.S. companies; governments imposing DSTs counter that big tech earns large local revenues while paying little local tax. #China #trade #digitaltax #Boeing #US #FiatNews

Foreign exchange snapshot as of 08:57 CET: CZK/EUR 24.5565 (-0.0079%), CZK/USD 21.1235 (-0.0544%), USD/EUR 1.1625 (+0.0465%). Other notable rates: JPY/EUR 171.7805 (+0.0647%), CNY/EUR 8.3209 (+0.1318%). Markets may track these pairs as global risk sentiment shifts. #FX #EURUSD #FiatNews

US equities cooled yesterday: the S&P 500 fell 0.5% and the Nasdaq lost 0.4% in a modest correction after Friday’s sharp gains. Investors enter the new week with caution. #S&P500 #Nasdaq #FiatNews