The recent trends in the global capital markets are reversing today. Although the price action yesterday warned of the risk, there have been five fundamental developments that are contributing to the price action today. First was China's September trade figures. The balance was little changed at $60.34 bln 9$60.24 bln in August). The consensus had forecast a fall toward $48.2 bln. The larger than expected surplus was driven by less weak exports and considerable weaker imports. Exports fell 3.7% after a 5.5% decline in August. The consensus was for a 6% drop. It is the third negative year-over-year print in a row and ... (full story)