Gold Best Post-Powell; Stocks, Yuan Bouncing After China Intervenes

After the carnage in Japanese, Chinese stocks overnight, US equity futures are staging their standard pre-open bounce this morning along with offshore yuan (which has nearly erased all post-tariff losses)...

Ugly night in Asia...

 

But a notable late-day bounce as Bloomberg reports  China intervened to support its stock market on Friday, people familiar with the matter said, after fears of a trade war with the U.S. sparked the steepest intraday selloff in six weeks.

 

And Europe...

But some bounce in US futures this morning... (thought context is king)

And offshore Yuan has almost erased all its losses..

And USDJPY broke 105...

But for now gold is holding on to gains...

 

And Treasury yields are now modestly higher from last night's close...