$Direxion FTSE China Bear 3X(YANG.US) saw a slight rise. Offshore capital is using leverage tools to bet on Chinese assets going down this time around. Is it short-term risk aversion, or is patience for policy implementation running out? I lean towards the former; when there are no new negative catalysts, such reverse positioning looks more like emotional hedging. A real shift to bearishness would depend on fundamental data continuing to weaken 😳
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