Blood on the Bourse.
This isn’t supposed to happen.
Misclassifying shoddy collateral as “ECB-eligible” is a great deal for banks.
Emerging-Market Debt Crisis on the horizon.
Currency War. Asian stocks plunge. Copper, Oil hit multiyear lows.
A “one-time correction,” a PBOC spokesman said, which everyone believed instantly.
The reason? The irony of Big Money.
A “Harmonization” Frenzy.
A lot of gloom in just one statement.
It took a few days, but now all that moolah has ignited.