The China Put in Oil Markets Will Reshape the World
Bloomberg reports that there are few things sellers in financial markets like more than a government put.
Such a situation — where a powerful state player makes a tacit promise to buy whenever prices fall too low, similar to the put contracts used by options traders — can dampen risk for years. The “Greenspan put” helped prop up equity markets from the 1980s to the 2000s, while the “Biden put” buoyed crude for two years until last... ...
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