Fed Cornered: Stocks Slump As “Everything Is Awesome” In China: GDP Meets, Rest Of Data Beats

from Zero Hedge

Heading into tonight’s datagasm from China, SHCOMP tumbled and Yuan was strengthening (while money-market rates were ticking higher). Then it began… Retail Sales BEAT (+10.5% vs. +10.4% exp), Industrial Production BEAT (+6.8% vs. +5.9% exp), Fixed Asset Investment BEAT (+10.7 vs. +10.4% exp) and last – but not least – GDP MEET (+6.7 vs. +6.7% exp) – though still the weakest since Q1 2009. The post-data reaction was initially opsitive but then faded fast as reality hit on the lack of stimulus coming.

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