China Still Reporting Strong Economic Growth at 11.9%

If the global rally is going to end, economic data must start disappointing. No such evidence exists according to the Chinese government. Instead, China reported the fastest economic growth in three years with an 11.9% expansion in GDP.

More importantly, inflation data was tame. So long as inflation stays under control, the prospect for rate hikes will be dismal. Therefore, liquidity will continue to trump bearish bets.