A test of the $3 level is in play again with copper breaking down. Iron ore is already sinking to new lows. Most investors are still not paying attention to China, but a breakdown to new lows will be a wake-up call. Chinese developers are right near their all-time high as measured by TAO, but in the A-share market they are flatlined. Those lines will converge one way or another. The performance gap since 2008 is about 50%.
FTAV’s further reading
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Easter eggs‚ spy cats; quant credit, synched brains
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