Desperate Times…
Desperate times call for desperate measures and Mainland Chinese equities came into Friday on track for their worst weekly loss since Vol-pocalypse.
Cue the vaunted "national team".
State funds rode to the rescue after the Trump administration moved ahead with tariff hikes as expected. The Shanghai Composite rose more than 2.5% in the morning session, but when things started to fall apart, Beijing stepped in. By the close, it was the best day for Mainland shares since late March, with the
An escalating trade war with China, escalating confrontations with Iran and NoKo, incompetent bumbling in Venezuela — so much winning.
My theory is trump is trying use the myriad of escalations in foreign “conflicts” and attacks on the constitution to create a massive shit storm in an attempt to distract people from the NYTimes article on his lost $1B and more so the Mueller testimony next week.