In recent days, financial media have often talked about the impending collapse of the global stock market due to the situation with the Chinese developer Evergrande, which will apparently announce a technical default on bonds on Thursday and announce bankruptcy at the end of October. The company’s debts exceed the $300 billion mark, which is a world record. Many investors began to draw parallels with the events of 13 years ago, when one of the largest American banks, Lehman Brothers, declared bankruptcy.

Lehman’s bankruptcy then triggered a panic sales on the stock exchanges, which prompted a rally in the Japanese yen as a defensive asset. Will this scenario be repeated now? In my opinion, no. The current situation is substantial from the events of the fall of 2008, inasmuch as then there was a shortage of liquidity in the financial system, and now bankers have an excess of money due to the stimulating measures of the Central Banks of the United States, China, Japan and the Eurozone.

Trading recommendation: Buy 109.30/109.10 and take profit 110.00.