With 1 Billion+ RMB / $152M Cume 'Coco' Has Now Quadrupled Pixar's Previous China Record

So much for China's mission to gradually deleverage in 2013. Despite two near-taper episodes, one in June and one in December, which send short-term lending rates soaring, the PBOC party line has been that the Chinese banking system is slowly but surely issuing less debt as it already has an epic debt overhang, much of which is turning sour at an accelerated pace. One needs to look nowhere else than the country's declining GDP to visualize the declining marginal utility of every dollar in newly credit loans.

Disney/Pixar

Disney/Pixar

The Pixar toon has stunned China, and Disney/Pixar, with a massive start to what’s shaped up as a classic box office run.

Pixar's "Coco" sang its way to the fourth best Thanksgiving weekend ever with an estimated $71.2 million over the

Disney/Pixar

PixarWith the release of its 17th film, "Finding Dory," on June 17, Pixar will likely continue the box-office domination that began with the release of its first film, "Toy Story," in 1995. Though each Pixar film released has made the studio a substantial net profit, not every movie has lived up to the immense success of some of the company's true blockbuster hits. 

One narrative we’ve pushed quite hard this week is the idea that China’s persistent FX interventions in support of the yuan are costing the PBoC dearly in terms of reserves. Of course this week's posts hardly represent the first time we've touched on the issue of FX reserve liquidation and its implications for global finance. Here, for those curious, are links to previous discussions: