China's January PMIs improved markedly:

A couple of headlines crossing wires are taking some of the steam out.

Fitch:

  • Automakers in China face soft consumer demand
  • We believe it is too early to conclude consumer sentiment is improving, as rebound in China auto sector was driven mainly by subsidy deadlines and NEV pricing strategies

IMF chief economist

  • says China's property sector will not be an engine of growth until there is some 'cleaning up' of the sector
kiss of death
This is the kiss of death