Chinese Officials Say “Unnecessary To Be Anxious” About Economy As Margin Debt Rises Most Since June Bubble Peak

Jon Alternative Media, Blogosphere, Economy

As everyone opined on China’s ‘goldilocks’ GDP data all day long, perhaps the biggest news this evening was US Treasury’s softer stance towards China’s currency ‘manipulation’, as we noted earlier, saying Yuan is merely “below appropriate medium-term valuation,” and sure enough offshore Yuan has strengthened since the report. China’s ‘official’ mouthpiece Xinhua told the people it is “unnecessary to be anxious about China’s economic growth.” And finally, for the 8th straight day, Chinese margin debt rose today to its highest in over a month. This is the longest stretch of releveraging in 4 months – since the peak of the bubble. “Will they never learn?”
He’s back…
GEITHNER: YUAN CAN BE SIGNIFICANT RESERVE CURRENCY IN LONG TERM *GEITHNER: CHINA CAN TRANSITION ITS ECONOMY WITHOUT CRISIS Offshore Yuan is strengthening since US Treasuries Yuan Report…

This post was published at Zero Hedge on 10/19/2015.