S&P Futures Don't Budge As China PMI Misses (Again) And US Government On Verge Of Shutdown – Update – Ramp!

UPDATE: Rumor of Clean CR (unfounded and denied) sparks squeeze in bonds (10Y +5bps) and ramp in stocks (ES +10!) – leaving us wondering how an equity rally will play with the press in the morning if we shutdown?

 

UPDATE: And now futures are testing towards the day session’s highs…

Given the Senate rhetoric following this House vote – a US government shutdown with all its fire and brimstone that we have been told to expect is nigh; For the second night in a row, Chinese PMI data disappointed with the recovery not as growthy as everyone had extrapolated from the flash data. This is the smallest rise in China’s official PMI in 4 months – just 0.1 above August’s at 51.1. What is the reaction of futures markets? nothing…

 

 

and 10 minutes later – S&P futures are testing the highs but 10Y remains entirely unimpressed…

 

Charts: Bloomberg

    



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