Thurs/Fri moves unwinding
So far today the theme is retracing a portion of the excitement on Thursday and Friday about central banks.
One of the drivers has been the mediocre response in Chinese stocks. Shanghai didn’t get a chance to react to the PBOC cut until today and the market closed up just 0.5%. When the news was announced, the A-shares US ETF had risen 2% so it’s a disappointment.
