Cartoon of the Day: An (Increasingly) Red Book

05/09/16 05:02PM EDT

Cartoon of the Day: An (Increasingly) Red Book - China cartoon 05.09.2016

Chinese equities were down hard overnight (Shanghai Comp down another -2.8% and -47% from 2015’s high) on terrible export (-1.8% y/y APR vs. +11.5% MAR) and import (-10.9% y/y APR vs. -7.6% MAR) data. To be clear, we’re not in the everything has “bottomed” camp.

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