Outflows from Chinese equities paused last night in spite of manufacturing softening more than expected. Traders waged bets amid stimulus talks, hoping to front-run an increase of liquidity. China’s policy makers pledged to support the economy in the face of a deepening slowdown.
European equity benchmarks are higher from where futures close on Friday night, despite still being off the 16.30 prices. The dollar is generally stronger against most pairings, and Bunds are a little weaker. The S&P 500 traded an all-time (not in real terms) intraday high on Friday.
Investors will later turn to German and US manufacturing data for a view of how the global recovery is performing.