{"id":1957942,"date":"2023-06-27T08:00:02","date_gmt":"2023-06-27T12:00:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/marketmind-china-supports-peak-rate-haze\/"},"modified":"2023-06-27T08:02:36","modified_gmt":"2023-06-27T12:02:36","slug":"marketmind-china-supports-peak-rate-haze","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/marketmind-china-supports-peak-rate-haze\/","title":{"rendered":"China backs efforts to combat air pollution and reduce peak levels of haze."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmarketmind-china-supports-peak-rate-haze%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1957942&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<h2>A Look Ahead in U.S. and Global Markets<\/h2>\n<p>Flagging world markets got a lift on Tuesday as China moved to shore up the falling yuan from the year\u2019s lows and nodded to more government stimulus to underpin its spluttering economic recovery instead.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>With falling Chinese interest rates diverging markedly from ongoing U.S. Federal Reserve tightening, Beijing is struggling to support the economy with monetary policy alone as that\u2019s undermining the currency. It made its displeasure at further yuan weakness clear on Tuesday, lifting official daily targets while state banks sold dollars.<\/p>\n<p>Then, indicating Chinese growth had accelerated in the second quarter to a 5% target, Premier Li Qiang told the World Economic Forum in Tianjin that the government would take steps to boost demand, invigorate markets, accelerate green transition and open high levels of its economy to the outside world.<\/p>\n<p>The combined moves boosted Shanghai and Hong Kong\u2019s main stock indices by more than 1% each and rippled across world oil and commodity markets.<\/p>\n<p>Despite the yuan rebound, however, the dollar rose against the euro and yen. A former Bank of Japan official indicated any change to the BoJ\u2019s super-easy policy stance may have to wait until October. <\/p>\n<p>Even though investors seemed to bat away the bizarre weekend events in Russia, the murky Western interest rate picture continues to hamper European and U.S. stocks. <\/p>\n<p>Central bankers meeting at an annual European Central Bank forum in Portugal dissuaded markets from betting on a peak in the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-biggest-problem-china-faces-isnt-real-estate\/\" title=\"The Biggest Problem China Faces Isn\u2019t Real Estate\">interest rate cycle<\/a> just yet.<\/p>\n<p>\u201cIt is unlikely that in the near future the central bank will be able to state with full confidence that the peak rates have been reached,\u201d ECB chief Christine Lagarde said, adding inflation was in a new phase that could linger for some time.<\/p>\n<p>Lagarde echoed International Monetary Fund second-in-command Gita Gopinath, who at the same event late Monday spotlighted \u201cuncomfortable truths\u201d about inflation that <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/marketmind-china-supports-peak-rate-haze\/\" title=\"China backs efforts to combat air pollution and reduce peak levels of haze.\">meant central banks needed<\/a> to work harder to get price rises back to target \u2013 even at an obvious cost to growth.<\/p>\n<p>While those comments are likely more directed at European policymakers, where disinflation is lagging, markets also still expect the Fed to push ahead with at least one more interest rate rise next month. <\/p>\n<p>Morgan Stanley economists on Tuesday said they now expect a July Fed hike to a mid-point of 5.375%, where they would stay until at least year-end, with further moves after July \u201cdata dependent\u201d.<\/p>\n<p>The hawkish rate picture didn\u2019t deter demand for two-year Treasury notes at Monday\u2019s auction, however, and 2-year yields slipped below 4.70% on Tuesday. Five-year paper is up for grabs later.<\/p>\n<p>The main focus of the U.S. data slate is the release of the Conference Board\u2019s June consumer confidence survey, with eyes on whether it matches the University of Michigan\u2019s picture of ebbing inflation expectations and rising sentiment this month.<\/p>\n<p>Wall St futures were mildly positive ahead of the open. The VIX volatility index hovered just above 14, well off Monday\u2019s highs.<\/p>\n<h3>Events to Watch for Later on Tuesday:<\/h3>\n<ul>\n<li>U.S. June consumer confidence, U.S. May new home sales, April home prices, May durable goods orders, Dallas Federal Reserve June service sector survey, Richmond Fed June manufacturing<\/li>\n<li>European Central Bank conference in Sintra, Portugal<\/li>\n<li>U.S. Treasury auctions 5-year notes<\/li>\n<li>U.S. corporate earnings: Walgreens Boots Alliance<\/li>\n<\/ul>\n<p> (By Mike Dolan, editing by Emelia Sithole-Matarise; mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/marketmind-china-supports-peak\/attachment\/file-photo-traders-work-on-the-floor-of-the-nyse-5\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>President Trump accepts the Man of the Decade Award from the Oakland County Republican Party. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Ryan Helfenbein<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Advertisement<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Michael Seifert<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Foo Yun Chee BRUSSELS (Reuters) -Zalando, Europe\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/a-minute-with-john-krasinski-and-jack-ryan-cast-on-saying-goodbye-to-show\/\" title=\"John Krasinski and the 'Jack Ryan' cast reflect on bidding farewell to the show.\">biggest online fashion retailer<\/a>, on Tuesday sued the European Commission for putting it in\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Promit Mukherjee and Toby Sterling JOHANNESBURG (Reuters) -Dutch-listed technology investor Prosus NV said on Tuesday it would end a cross-holding structure\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>(Reuters) \u2013 Meta Platforms\u2019 WhatsApp Business application is now catering to more than 200 million users on its platform, a four-fold jump\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Josh Ye HONG KONG (Reuters) \u2013 Baidu Inc, China\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/futures-edge-higher-ahead-of-economic-data\/\" title=\"Stock futures rise ahead of economic data.\">leading search engine provider<\/a>, said the latest iteration of its ChatGPT-style service\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Global markets received a boost as China took steps to support its weakening currency and hinted at further government stimulus. This move comes as Chinese interest rates decline, setting them apart from other countries.<\/p>\n","protected":false},"author":66,"featured_media":1957943,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-1957942","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1957942","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1957942"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1957942\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1957943"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1957942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1957942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1957942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}