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Meanwhile In The Shanghai Composite  Tyler Durden's picture
Remember that 50 bps RRR cut a week ago which was supposed to
telegraph to the market that the PBoC has commenced a monetary
easing phase? It appears quite a bit more telegraphing will be
needed: unlike in the developed world, where the central banks
are entirely in control of capital markets, in China capitalism
still has a foothold, however weak, and a result the Shanghai
Composite is indicating the direction of where the global
economy is truly headed, pro forma for that ridiculous most
recent speculation that the US will decouple form something or
another.  SHCOMP - 4 straight days of declines since the RRR
announcement:   - advertisements -  Comment viewing options
Tue, 12/06/2011 - 09:26 | 1950457 GeneMarchbanks
GeneMarchbanks's picture  RBA also cut rates.  The asian
contagion will be the real source of the disinflation bust not
EZ.  Tue, 12/06/2011 - 10:05 | 1950576 Oh regional India