China’s bond rally got a shot in the arm from a key economic meeting, where promises of interest rate cuts helped send the benchmark yield to a fresh record low. Earlier this week, the Politburo, China’s top decision-making body, pledged “moderately loose” monetary policy in its first policy pivot in nearly 14 years. On top of easing bets, bonds are also supported by concerns over a potential trade war with the US and a lack of other investment options amid fragile sentiment on stocks and the property market. In politcs, South Korean President Yoon Suk Yeol’s approval rating slumped to its lowest level since he took office as he tried to defend his declaration of martial law and push back against efforts to oust him via impeachment.
Today’s guests: Daniele Antonucci, Quintet Private Bank CIO; Beata Manthey, Citigroup; Jimmy Muchechetere, Investec Wealth & Investment (Source: Bloomberg)
+ There are no comments
Add yours