Tender Calms Markets

42%its chance, of the story’s futures

+0.7%on the S&P 500, if it happens

The third securities swap facility tender is treated as a credible continuation of the PBOC’s market-stabilization effort. Brokerages and insurers use the facility without visible stigma, easing forced-selling pressure in Chinese equities.

What it moves

Finance+1.0%
Consumer Cyclicals+0.8%
Riskier companies' borrowing costs▼ down
Market volatility▼ down

Sectors in percent; other series by direction only.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.

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