AM Notes: Markets immune to Bitcoin contagion

Let's start with the Bitcoin contagion effect...

S&P futures: Gap down with a small push lower on the open, then a retracement to fill that gap...

Aussie Yen followed a similar pattern and is currently trading either side of 84

BUT

Asian indices are (almost) all positive...

There's no real signs of risk sentiment taking a body blow here & no conviction to the moves lower in risk...

Focusing on China: Relations are not improving, but the Huarong situation has calmed for now

Huarong bonds jumped after China’s financial

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Reports of Bitcoin's death have been greatly exaggerated