MBCC Trading Highlights 28th September - BOE bites the dust, pivots, who is next and is this really bullish or bearish risk?

Chinese Yuan trading at 7.23, level not seen since 2008! China is now going through a devaluation. BOE just bit the bullet and pivoted, starting QE before it could even start QT. That is the problem with central banks. Who is next to pivot? Traders are used to buying the market on QE, but is this QE the same or different?

All this and more in today’s note. What to do here? Where is the opportunity?

MBCC does not regurgitate news, it tells you what is mispriced based on our proprietary cross asset models, and tells you what the trade here is.