They just devalued their currency to the lowest level in 5 years.
Their markets have been quietly sucking immense human sausage, undergoing the worst 4 week sell off since 2012. The fraudulent heavy Shanghai composite of down 4% this month and 20% for the year–making it the single worst performing stock market amongst the 93 indexed by Bloomberg.
Over the past 12 months, China is down 43%.
Back in January, the market threw a fit when China devalued its currency. Now the market views this as something of a good things. Truly bizaare.
Rally on.
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No worries in the land of the yellow man……debt to GDP is a mere 240 percent……I’m sure it’s fine.
pm’s are leading the way down like jan down move. this weeks rally is looking like the same as last week of dec. note the dollar move.
Something I have been scratching my head about for months now…the market shrugging this off after the shit-fit it threw barely a year ago. Irrational Exuberance, anyone?