PremiumPlunge Protection, Chinese Style: Beijing's "National Team" Rescues Stocks From A Bear Market
Earlier today, when we went through Hartnett's latest Flow Show, the "Enter The Dragon" edition, one curious footnote stood out: a $17 billion inflow into China equities, the largest since July, in a week when the CSI 300 was sliding toward a bear market. We noted that "we have a pretty good idea who is buying the cemetery" (a nod to the BofA client who joked that "if I bought a cemetery, people would stop dying").
Well, now we don't have to guess.