The biggest apparent bubble is in housing, but prices have surged for niche assets, too, such as calligraphy, antiques and art. In May, futures prices for soybean meal, used as pig feed, jumped 40%. The pipe-making material PVC is up 40% so far this year on the Dalian Commodity Exchange. Source: WSJ
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Italy’s economy minister sought to reassure investors on Thursday that they will not be hit in a rescue of two ailing regional banks, Popolare di Vicenza and Veneto Banca, after fears of a full “bail-in” hit the lenders’ debt. Source Reuters
SHANGHAI, May 26 China’s yuan on Friday extended the previous day’s big gain, hitting its strongest level in more
than three months, and the Chinese currency was on track for its best week since mid-January. Source Reuters
A Chinese man and his wife who teach Chinese at a local language center were abducted in Pakistan. The Chinese presence in Pakistan has increased thanks to the thriving China-Pakistan Economic Corridor (CPEC), a $46-billion investment project that involves roads, ports, power plants and other crucial infrastructure as part of teh China-led Belt and Road initiative. Source Global Times