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Financials Fall Alongside Treasury Yields, Amid Diminished Inflation Expectations - Financials Roundup
05/25/2021 | 05:14pm EDT
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Required fields Shares of banks and other financial institutions fell as Treasury yields dropped on diminished inflation expectations. Since the release of the Fed minutes last week, bond market breakeven rates (i.e., the bond market s embedded inflation expectation) and commodity prices have both declined, said Jim Paulsen, chief investment strategist at money manager The Leuthold Group, in a note to clients. Instead of engaging in a taper tantrum as happened during previous shifts in Federal Reserve bond-buying plans, the stock market may be applauding the Fed s apparent plan to gradually bring inflation to heel, according to Mr. Paulsen.
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Inside the race to avert disaster at China’s biggest ‘bad bank’, the Huarong Asset Management Co
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Inside the race to avert disaster at China’s biggest ‘bad bank’, the Huarong Asset Management CoBloomberg
Last Updated: May 24, 2021, 11:56 AM IST
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Synopsis
Huarong Asset Management Co has been in full crisis mode ever since it delayed its 2020 earnings results, eroding investor confidence. Executives have come to expect to be summoned by government authorities at a moment’s notice whenever market sentiment sours and the price of Huarong debt sinks anew.
Reuters
Huarong makes good on some $41 billion borrowed on the bond markets, most incurred under Wang’s predecessor before he was ensnared in a sweeping crackdown on corruption. That long-time executive, Lai Xiaomin, was put to death in January his formal presence expunged from Huarong right down to the signature on its stock certificates.