The swap market showed that AAA corporation bond's yield is lower than U.S. Government's bonds. It shows the market is embracing risk. It is not rational.
Why Google got out of China? All the reasons it gave were not convincing. 1.It knew the conditions when it entered the market. 2. It has developed some good clients, especially among large corporations, so I do not buy the notion that it failed in the Chinese market. 3. Cyber attacks. This is not limited to Google. Most big companies, include Chinese companies get attacked. My take is there are some unspoken reasons, probably related to U.S. government. We will probably find it out in a couple of years.
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