It looks like worrying about China is back.
This Bloomberg story is making the rounds today as something causing people to worry.
Industrial & Commercial Bank of China Ltd., the world’s most profitable lender, and its four largest rivals expunged in the first six months 22.1 billion yuan ($3.65 billion) of debt that couldn’t be collected, up from 7.65 billion yuan a year earlier, filings showed. That didn’t pare first-half profits, which climbed to a record $US76 billion, as provisions were set aside in earlier periods when the loans began souring.
The other China story is a rise in money-market rates, as the PBOC may be taking fresh anti-inflation moves.