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October 10, 2024 at 11:41PM Bloomberg (gated) cite a note from Michael Feroli, chief US economist at JPMorgan on Trump’s policy desire to weaken the US dollar. In brief: it conflicts with his tariff policy, theory predicts that the currency of a tariff-imposing country should appreciate following higher import duties...
October 10, 2024 at 06:43PM Chinese markets improved today after Beijing’s finance minister teased a Saturday briefing on potential economic measures. That’s helped to boost global growth trades including oil but if you look around markets, the other things correlated to growth aren’t nearly a strong as oil. Brent crude...
October 10, 2024 at 08:15AM Eurostoxx -0.1% Germany DAX -0.1% France CAC 40 -0.1% UK FTSE +0.3% Spain IBEX flat Italy FTSE MIB +0.1% There is a more tepid mood among European indices, with US futures also reflecting similar sentiment. S&P 500 futures are down 0.1% and that’s not leaving...
October 10, 2024 at 07:07AM German DAX futures -0.1% UK FTSE futures -0.2% This comes with US futures also showing a more tepid mood, down 0.1% on the day. Looking to Asia, Chinese equities are bouncing back after the setback yesterday with the CSI 300 index up 2.5% and Shanghai...
October 10, 2024 at 02:28AM Headline on this is here from earlier: PBOC to establish securities, funds to aid capital market stability The Wall Street Journal have a recap on this now. The Journal is gated but here is the link if you can access it. that eligible brokers and...
October 10, 2024 at 02:15AM The People’s Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead. USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate. CNH is the offshore yuan. USD /CNH has no restrictions...
October 10, 2024 at 02:03AM China’s Ministry of Finance briefing is scheduled for 10 am Beijing time on Saturday. October 12. to provide insights into fiscal policy and economic development … or ” intensifying countercyclical adjustments to its fiscal policy” according to invitation documents 10 am Beijing time is 0200...
October 10, 2024 at 01:25AM People’s Bank of China will establish a SFISE (security, funds and insurance companies swap facility) for 500bn yuan. To build capital market stability. Those security, funds and insurance companies eligible can pledge assets such as bonds, stock ETFs, and CSI300 stocks. They’ll receive liquidity from...
October 10, 2024 at 01:21AM People’s Bank of China USD/CNY reference rate is due around 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate...
October 09, 2024 at 09:37PM Info comes via the UK’s Adam Smith Institute (ASI) on the exodus of high net worth individuals from the UK: Today, 4.55% of British residents are millionaires, but the ASI has forecast that this will fall to 3.62% by 2028; The fact that the UK...
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