This was the best times for the US equities but it was the worst times for the country of China.
HSBC-Markit just announced the Flash PMI for August and the numbers are not looking good- printing at a nine-month low (47.8 vs 49.3 in July).
Obviously, China’s opinion remains in the Schrodinger-like 50-expansion state for now but with all 11 sub-indices in this evening’s data pointing to weakness. Thus, looks like even China can’t sell this data anymore.
It was just announced that the New Export Orders slumped to 44.7 – lowest since March 2009 when trade finance collapsed post-Lehman.
Source: HSBC Purchasing Managers’ Index™ Press Release
