This past Saturday, when looking at the latest dismal data out of China, we were both lucky and good to correctly call China's imminent "panic moment" which finally materialized just a few hours later on Tuesday morning, when the PBOC unleashed a frenzy of monetary stimulus and market support measures.
Time For China To Turn On The Printing Press https://t.co/IDBjhxAs90
— zerohedge (@zerohedge) September 21, 2024
Others, however, were not so lucky (or good), and as Goldman trader Cheng Ping Yu writes, the bank's trading desk received lots of questions around today’s move which indicates to Yu there is 1) lack of conviction on the move higher 2) low positioning (inline with our prime services and mutual fund positioning data).
