The Last Time This Happened, China Devalued

• The Last Time This Happened, China Devalued
  by Tyler Durden, http://www.zerohedge.com/
  “It’s quiet, too quiet”, “the calm before the storm”, “the deep breath before the plunge” – you name the idiom, there is nowhere it applies more than US equity markets (lowest closing range in 65 years). Dow has done nothing for 8 days… the longest streak since 1952…
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  However, if ever there was a catalyst for chaos, it is the collapse in uncertainty around the Chinese Yuan… 
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  As Bloomberg notes, the eerie stability in the yuan is reminiscent of the period leading up to China’s unexpected currency devaluation in August 2015. The one-year implied volatility of the yuan has dropped to about 4.7 percent, from about 8 percent at the beginning of the year.
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