Interestingly, we haven’t heard much from the Chinese government on support measures over the past few days.
A week or two ago, they announced:
* A near ban on short-selling
* Major cash injections to financial institutions
* Allowing investors to use their home equity (!) as collateral for margin loans
* Devaluing the yen to stimulate the export economy (although that takes time)
... among other things. It yielded a bounce, but that’s fading. I wonder if they’ll try a raft of new measures next week, or let it take its course. After all, the Tianjin explosion, and recent news that 70% of industrial facilities in Beijing fail hazard inspections may have them focused somewhere else.
Devaluing the yuan... not the yen...so sorry
What’s your take on US markets? Will it be over when Janet agrees to keep interest rates where they are now?
Sellers gonna sell.