China now 'moderately prosperous' 🥂🎉🙌

Asian indices were broadly weaker overnight.

Fairly quiet in G10 FX, oil slightly higher ahead of OPEC, with S&P futures just below 4300.

Xi Jinping delivered a speech celebrating 100 years of the CCP.

He declared that the CCP's long-term party goal of building a moderately prosperous society has been achieved.

I thought China were supposed to be taking over the world?

Never going to get there unless CCP dreams bigger than moderately prosperous...

There was also plenty of the usual rhetoric around the West (and their "santimonious preaching") & Taiwan reunification.

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Tim Vollans

• Spain

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