Meanwhile In The Shanghai Composite
Remember that 50 bps RRR cut a week ago which was supposed to telegraph to the market that the PBoC has commenced a monetary easing phase? It appears quite a bit more telegraphing will be needed: unlike in the developed world, where the central banks are entirely in control of capital markets, in China capitalism still has a foothold, however weak, and a result the Shanghai Composite is indicating the direction of where the global economy is truly headed, pro forma for that ridiculous most recent speculation that the US will decouple form something or another.
SHCOMP - 4 straight days of declines since the RRR announcement:
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