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China s Delta Outbreak Cuts Travel, Prompting GDP Downgrades | News & Analysis
businessoffashion.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessoffashion.com Daily Mail and Mail on Sunday newspapers.
by Tyler Durden
Tuesday, Jul 27, 2021 - 10:01 PM
Earlier today we said that with Chinese stocks suffering historic losses, HK s tech sector imploding..
. and liquidation fears spreading to other, more serious products such as bonds and FX, it was only a matter of time before China s National Team , i.e., the local plunge protection team, came out in full force to preserve confidence in centrally planned markets.
Well, just a few hours later, we learned that sure enough, the local Chinese
bat signal summoning the plunge protectors has been activated with local press Securities Daily reporting that the plunge is unsustainable and will gradually stabilize. And since the media is merely a propaganda outlet to local state and central planners, it is telegraphing what will come next: a massive ramp in Chinese stocks.
Futures Rebound As Chinese Rout Fades, All Eyes On The Fed
zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.
by Tyler Durden
Friday, May 28, 2021 - 07:56 AM
S&P futures rose on Friday after solid economic data and Joe Biden’s leaked $6 trillion federal budget plans spurred a Wall Street rally in cyclical shares ahead of a closely watched inflation report offsetting recent worries about a spike in prices put the S&P 500 on course for its smallest monthly gain since February. At 7:15 a.m. ET, Dow e-minis were up 177 points, or 0.5%, S&P 500 e-minis were up 16 points, or 0.38%, and Nasdaq 100 e-minis were up 48 points, or 0.35%. Treasuries were steady and the dollar strengthened. Markets will be shut on Monday for Memorial Day holiday
by Tyler Durden
Thursday, May 27, 2021 - 08:28 AM
With the Chinese yuan on a rampage in recent weeks, hitting the highest since March 2016 against a basket of trading partners’ currencies as the USDCNH rose above the critical resistance level of 6.40 on Wednesday.
. some were waiting for the PBOC to address this relentless ascent, especially after Chinese state-owned banks entered the market on Tuesday to buy dollars and push the yuan lower amid speculation that the currency had gotten so strong it was hitting Chinese exports or that, inversely, it was hoping for an even stronger yuan to offset soaring domestic inflation.
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