The Second Edition of Stenos Signals

The credit data from China tells you to be more upbeat on Chinese economic activity in three to four months from now. It may alter the view of negative equity sentiment across the globe, but in particular, it should lead to the conclusion that the dollar will suffer relative to other major currencies. Base metals, industrial metals will gain due to this reopening. And ultimately, it is probably also a decent signal for Japanese stocks. I hold my positions in healthcare relative to energy despite this Chinese reopening.