Meanwhile, anyone who was following out periodic updates of China's "alternative", high-frequency indicators demonstrating the real state of the economy was hardly surprised, because as we showed over the past few weeks, after China's catastrophic post-Lunar New Year collapse the economy has yet to stage a material rebound as profiled previously:

China Has Ground To A Halt: "On The Ground" Indicators Confirm Worst-Case Scenario

China Is Disintegrating: Steel Demand, Property Sales, Traffic All Approaching Zero

Terrifying Charts Show China's Economy Remains Completely Paralyzed

And yet, judging by the market's torrid surge on Monday, it appears that - as so often happens - traders took China's latest numbers in stride, and specifically as an indication of Beijing "kitchen sinking" the collapse in February, with a V-shaped recovery sure to follow.

Or maybe not, because while not only has China's economy not picked up even modestly, but it is only a matter of time before Beijing, which has forced people to go to work against their will, succumbs to a second wave of coronavirus infections, one which will result in an even worse economic slump than the current one, which incidentally has yet to show any actual recovery!