China rick-aversion

A Communist Party directive leaked to the Chinese-language edition of the Asia Times said dollar reserves should be limited to US Treasuries or agency mortgage debt such as Freddie Mac that enjoys Washington's implicit backing.

BNP Paribas said the move has major implications for global risk assets. "The message from Beijing is that we don't like this environment," said Hans Redeker, the bank's currency chief.

"When the world's biggest investor turns risk-averse, that is something you take notice of. We think this could become the new theme for the markets in the medium-term," he said.

© China orders retreat from risky assets - Telegraph

Не стоит рассматривать как утечку китайского риск-менеджмента, скорее это вброс - на очередном этапе развития межгосударственных торговых/геополитических/военных противостояний, прям как в депрессии 30-х годов.