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ZH/BBG/TWTR/everyone has been pimping the China blowup story for the last few days. Hillarious because the yuan moves like 0.01 against USD after the downgrade and then fades away in 10 minutes. Going to be disappointed punters.
9 comments:
ZH/BBG/TWTR/everyone has been pimping the China blowup story for the last few days. Hillarious because the yuan moves like 0.01 against USD after the downgrade and then fades away in 10 minutes. Going to be disappointed punters.
Undercuts the China as currency manipulator narrative.
Now Moody's is the currency manipulator.
Chinese are going to be pissed. They may consider this an act of war.
sarc
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Right knowing China they probably bought/bribed Moody's and downgraded themselves...
Tom nailed it. Economics is just warfare by other means.
Right knowing China they probably bought/bribed Moody's and downgraded themselves...
Ha ha. Good one. Even if they didn't they are probably laughing up their sleeves.
How will China ever find enough Yuan jo pay their "debts"? :-)
Offshore yuan reversed today and spike up to a two month high.
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