Hong Kong’s Mandatory Provident Fund Hit By China Evergrande Contagion Has Worse Performance Since 2018

Hong Kong’s compulsory pension scheme MPF lost each member HK$10,800 (US$1,387) in the third quarter as China regulatory and Evergrande debt crisis converged in a perfect storm to crack markets lower.

American Household Wealth Grows $1.7 Trillion to New Record

U.S. President Trump may be the most divisive President in History but the Federal Reserve shows Americans are getting weathier with him. U.S. household wealth increased in the second quarter to yet another record by $1.7 Trillion to $96.2 trillion, following a 2.327 Trillion gain in the first quarter.