... with words and a leaked (possibly fudged) export numbers
*Market gets the 'China up 50% exports' on the 9 June 2010 (leaked rumour), rallies the Shanghai (then drops again on the 10th June 2010) and other risk 'on' assets. Question is who is China selling too (exported goods); the US? Europe? or Japan (GDP is hardly moving)? Unless the ships leave China taking a loop in East China Sea then dock back at Shanghai and unload the containers onto the docks. We will have to check the Chinese terms of trade to see if a 50/50 of exports/imports has occurred (do you sense the sarcasm?). But then again the Dry Baltic Index (shipping index) is down over 20% since May 2010.
*China says the Euro can withstand the 'crisis'. Thus this verbally pumps the EUR up.
With Government officials and central bankers (globally) using verbal rhetoric to keep the market stabilized (amidst a global sell off). Do we see this has a desperate measure?
Then there is the Bank of Korea going all out to intervene on the WON... but that is for another update.
Asia is looking nervous.
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