Leaders and Losers

UBS buys Credit Suisse, China cuts US treasuries, Xi and Putin reunited, China EV exports surge, BRICS + + bigger than G7, AUKUS imitates comedy, Moody's: US banks rapidly deteriorating.

UPDATE: The banking crisis in the US and Europe is deepening as systemic weaknesses exacerbated by years of massive quantitative easing, poor economic governance, ballooning military budgets, belligerent foreign policies, sanctions and dollar weaponisation and endless wars takes its toll.

China's cut in US debt holdings reflects an ongoing trend by the w…