Because nothing says ‘stability’ like a 10% surge in the ‘price’ of stocks in 3 days. Having trodden water between in a narrow range for a month, the last 3 days (ahead of US payrolls and China’s weekend) are the biggest rally since China first banned short-selling in July, and 2nd biggest since December 2014 when the epic bubble really took off in Chinese stocks. Now, with China ‘fixed’, all The Fed needs is a “not terrible” payrolls print tomorrow and December is a done deal…

Up 10% in 3 days… “normal”

The biggest jump since the short-selling ban and 2nd biggest since December…

Charts: Bloomberg