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Futures Suddenly Explode Higher On Chinese Conciliatory Headline

Courtesy of ZeroHedge View original post here.

Everyone is already stopped out and it's not even 8am.

Barely 90 minutes after markets tanked after China vowed it retaliate imminently to Trump's imposition of new tariffs, futures exploded higher on what was interpreted as a conciliatory headline from China that apparently reversed all the negative sentiment.

  • CHINA HOPES U.S. CAN MEET HALF WAY WITH IT ON TRADE ISSUE: HUA

How this was indicative of anything more than what it meant, namely tacit hope that the US would concede further without making any concessions of its own, is unclear but to algos the headline was all they needed to activate the afterburners on the BTFD program and the result was the following:

European stocks similarly pared their drop on the headline, after benchmarks had dropped as much as 1.4% earlier.

That said, suggesting that the bounce will fizzle was the response in the yuan which was barely noticeable:

Whether optimism persists is unclear, but what is clear is that for now, the pattern of futures surging after a CNBC "Markets in Turmoil" episode remains unbroken.


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