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Confusion: US Equities Drift Lower (China Higher), Yuan Surges & Purges As China Manufacturing Misses (And Beats)
Confusion reigns... China's Manufacturing PMI is in contraction according to both the Official and Markit/Caixin measures (but the former was flat and missed while the latter rose and beat "confirming economic stability" according to the 'official' press). Following the largest strengthening fix for the Yuan in 10 years, both the onshore and offshore Yuan are weakening by the most since the August devaluation. Finally, having cliff-dived at the open, Chinese stocks have bounced back to unchanged on the Ciaxin PMI beat (but US equities drift lower still).
It's a rise and a beat & a miss and a drop for Chinese manufacturing...
The last two times the Caixin measure has diverged positively from the official data, it has converged lower in the next 3 months.
After the biggest strengthening fix in 10 years...
Onshore (and offshore Yuan) are weakening by the most since the August devaluation...
Compressing the Onshore/Offshore spread back to zero...
And finally Chinese stocks tumbled on the weak 'official' PMI and surged back to unchanged on the Caixin PMI...
But US equities saw no such bounce as hopes for moar easing fade after comments on "stability" after the Caixin print...
So chaos reigns once again...
Charts: Bloomberg
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Keep those beautiful charts coming Tyler.
WTF? HANG SENG INDEX: INDEXHANGSENG:HSI quotes & news - Google Finance
When SSE & SHA are< Shanghai exchange real time exchange
What's the yield on 2-3-5 Treasury notes, in the afterhours markets?
Sell and move to cash on the sidelines.
Sold in July.
no CONfusion here: same bullshit, different trading day...
SUCK IT, BITCH!!!!!!!!!!!!!!!
Off topic.
Tylers, you have started archiving articles that are just a day old. This is your house and you will do what you deem fit to maintain it. I am not going to question that. I have been here for more than 6 years, and I have noticed that the ethos of this site has been gradually changing. The new archival policy is one of those changes.
I am sure nobody has any issues with you archiving articles; however, archiving an article that is just a day old is just a tad extreme, in my opinion. I read your posts on a weekend, as I don't have time during the weekdays. The archived articles have a difficult look and feel and are difficult to peruse. The one thing I miss most in an archived article is the ranking of comments. Any chance you can review the new archival policy of yours?
I second sysyphus.
I concur with Sisyphus comments, in that I would greatly appreciate it if you could restore the old policy regarding archiving.
I would also like to compliment ZH at the same time. All sites have things they could improve upon, but in my opinion ZH stands alone. While this is obviously not true of all the contributors, many of the bloggers on this site provide great content that enhances the value and attraction of ZH as a site. It is to ZH’s credit that you have created a site of such quality that is attractive to that type of blogger.
For example, I don’t know of any site that does as good of a job of providing technical research, feedback support (with your comment rating system), long-term archiving, and total flow of well thought out commentary – it’s just not out there.
Not trying to take away from Sisyphus’s constructive criticism, because I am sure that he probably feels the same way.
Keep up the great work ZH, we really appreciate the platform that you provide!
Israel Did 9/11
In case you forgot...
Hey, when are our next batch of POTUS whore nominees going to Israel to suck the massah dick?