Yuantervention Extreme - Offshore Yuan Explodes 850 Pips Higher, Biggest Jump Ever
While some central banks prefer to stealthily 'manage' their markets, a bid here, a stick-save there, today's epic intervention, short-squeeze, carry-trade-carnage in Offshore Yuan is the most visible hand yet in the new normal world of central planning. USDCNH is now down over 850 pips on the day - a record 1.25% strengthening in the offshore Yuan...
CNH is now 15 handles stronger from the "halt" spike lows last week...
This is the biggest single-day drop in USDCNH (strengthening in Offshore Yuan) since records began...
One wonders if the move is over now...
(3 votes)
»
- Login or register to post comments
- Printer-friendly version
- Send to friend
- advertisements -
Good, that should help Chinese exports...
/s
Ain't nobody gonna breaka my stride, ain't no body going to bring me down.
Last night I had the strangest dreamI sailed away to China
In a little row boat to find ya
And you said you had to get your laundry cleaned
Didn't want no-one to hold you
What does that mean
And you said Ain't nothin' gonna to break my stride
Nobody's gonna slow me down, oh-no
I got to keep on movin'
Ain't nothin' gonna break my stride
I'm running and I won't touch ground
Oh-no, I got to keep on movin'
https://www.youtube.com/watch?v=TY41o-iZStI&list=PLEB62A95CB8D0705C&inde...
In honor of Ziggy Stardust's passing, here is a stanza from "China Girl" by Bowie.
My little China girl
You shouldn't mess with me
I'll ruin everything you are
I'll give you television
I'll give you eyes of blue
I'll give you man who wants to rule the world
Yep. We ruined some folks.
My (Bowie inspired) sailboat "Under Pressure" sank, was carrying too much metal :(
David Bowie, introducing a generation to sodomy and AIDS.
Nah -
The 'shut your mouth' verse was the best. That's all I remember...
Bowie didn't write that, he stole it from Iggy Pop.
Bowie was a bad person. Iggy is no shining light but Bowie was scum.
To the Man Who Sold the World........
I wonder what the opportunity cost is of short-squeezing this way versus printing your way out?
National Team dropped some rice into their keyboards. Nothing more.
@slaughter - late last night/early this morning USD to CNY was 6.59. Now at 3:28eastern its dropped to 6.57.
Phat Phinger...
As bad as it looks, we're only seeing the trees for the forest. Remember,this is China; they have their own scale.
Their agenda is to save their own ass, our ass is a different story. This won't work, but the knock-on effects should be truly awesome.......
strong yuan policy lulz
All that cheap oil must be keeping the printing press real cool...
Bass is getting hammered. At least he has his nickles.
I just say one thing. Yuan needs to devalue at least 30% just to return to its competitiveness with other Asian currencies, yen, dong, bat, etc., There is no transition to service economy in China since Chinese are nation of savers, and all those market instabilities and price drop cause them to save more, even when interest rate are collapsing. An opposite reaction to American sheeple. And this is what's all those morons from academia and bankster trade cannot get.
Here is why?
https://contrarianopinion.wordpress.com/economy-update/
REVERSE CHINA SYNDROME: A VIEW FROM ABOVE.
Hahaha.. Soros & the gang, panicking cause they would loose their investment value in china, if Yuan's falls down much more & in a flash time.
China wants to DOUBLE THE DEVALUATIONS from current levels. 13 yuan's to a dollar sounds reasonable to me. IT THIS THE ONLY WAY CHINA CAN DO to stimulates its industry.
As for HYPER INFLATIONS (such as ZH doom/gloom articles)? Dude in china? Like my country? Like any other EM? Food's price is SUBSIDIZED dudes!! Otherwise there are no EM countryleft!! The EM govt already toppled by its people!!
And? IT'S CHEAPER TO SUBSIDIZED FOODS, THAN TO SUBSIDIZED YOUR STOCKS MARKETS!! As you already know seeing ALL CB'S CAN'T PROP UP THEIR OWN STOCKS/FUTURES MARKETS!!
Still can't see, can you? The world fiat value going down the drains right now. But you don't see any records foods value. Even for Ukraine & Greece!! Why? Their govt subsidized this value (directly when purchasing it, or, by giving "incentives" to their farmers),
ANY GOVT KNOWS VERY WELL!! FOODS PRICE? IS THE FASTEST WAY TO INCITE A PEOPLE RIOTS MOVEMENTS TO TOPPLES ANY GOVT!!
Haven't you read Machiavelli's??