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China Stimmy Flows And SPX 6666
Investors put nearly $40 billion to work in global equities over the last week.
The net haul -- $39.7 billion to be more precise about things -- was among the largest of 2024 on EPFR's data.
As the figure below shows, the influx over the last four weeks was almost $110 billion, the briskest four-week pace of the year.
For 2024 as a whole, global stock funds have seen $496 billion of inflows. So, we're one weekly inflow from hitting the half-trillion mark. The breakdown is $805 billion to ET
I don’t think it’s a joke. It’s a possible scenario before the bottom falls out.
What China stimmy? is a fair question after MoF briefing.
RMB 1TR bond issuance will be done on time – sounds like this is issuance already planned, nothing new
Allow LGs to issue debt to buy unsold housing – also nothing new, plus the LGs don’t want to do it
Something about substantive banking reform proposals will be issued in the next one or two years – yawner
Aid for low-income and students – worthy, not very bazooka-ish
Studying more “counter-cyclical measures” – Chinese govt suggesting this is just a “cyclical” matter does not imply it plans major structural changes, though maybe something lost in translation
Will replenish state banks’ capital – necessary perhaps but implies more string-pushing?
“Will introduce a series of targeted incremental policy measures” – oh goody, incremental measures
Bait and switch.