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Peak Intervention? China Rate-Cut Stock Gains Erased In Under 4 Hours

Did the age of central bank omnipotence just come to an end?

After 3 USDJPY driven rescues, the China Cut gains are gone for the S&P 500...

 

Of course, from the close yesterday, markets are still holding gains...

 

Even as VXX surges back into the green

 

Maybe stock traders glanced at the un-exuberance in credit markets...

 

Charts: Bloomberg