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As major economies continue to grapple with high prices while fending off a slowdown, the effectiveness of central banks and governments is being called into question. At the heart of the brutal sell-off in markets is a crisis of confidence in global policymaking.
Unsurprisingly, China’s Omicron wave has cut growth, dragging down emerging market stock values. But current valuations are a reflection of recent challenges rather than a sign of things to come, as China looks to ease monetary policy and step up its vaccination drive.
Investors are eager to see a stronger policy response from Beijing to arrest a slump in output and stock prices, no thanks to its zero-Covid policy. Will China oblige?
China’s US$200 billion junk-bond market is in the midst of a ‘significant default cycle,’ Varde Partners says. Value Partners in Hong Kong says market has rarely been this cheap.
A torrent of credit, easier financing for home purchases and fee cuts for smaller businesses are among signals officials are treating China’s slowest growth since mid-2020 with urgency, UBS strategist says.