FT: China very likely to participate in EFSF, with conditions

Any Chinese support would depend on contributions from other countries and Beijing must be given strong guarantees on the safety of its investment, according to Li Daokui, an academic member of China’s central bank monetary policy committee, and Yu Yongding, a former member of that committee.

The three pm FT bomb comes early today. S&P up 3.6%.

Risk-on! China’s in!

61.8% Fibo next at 1.4255