FAST FIVE: Rabo: It's All About China Again Today…. And For Markets The Question Is "Where Next?"
(Which says so much about said structure.) US 10-year yields dipped as low as 1.22% on the general red before remembering “This is 'Murica!” and adding white and blue to close back at the merely depressing 1.28% level.
Lower education costs make it cheaper to have more children – presuming people don't just face the inconvenience of finding and then paying tutors on the black market given the social pressure on children to pass the gaokao university exam.
“Risk is priced” Wall Street is unlikely to be the source of that wisdom based on its track record and its theme song of “Money makes the world go round”.
Indeed, I already saw the first reference to these shock out-of-the-red crackdowns being a good, lower entry point.
Or, just hum “Money makes the world go round” until the next “Whocouldanooed?” surprise emerges as a “better entry point”.