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EMERGING MARKETS: Global News: January 02

EMERGING MARKETS
  • RUSSIA / UKRAINE (BBG) – Russian gas stopped flowing to Europe via Ukraine, closing off a route that’s operated for five decades after Kyiv refused to allow any transit that funds Moscow’s war machine. Both sides confirmed the halt Wednesday after a key transit deal expired.
  • CHINA (BBG) – The PBoC injected massive liquidity into the market at the end of 2024 without using high-profile stimulus, as officials preserve policy space before US President-elect Donald Trump returns to office. The PBoC previously flagged it could free more cash for banks by cutting the reserve requirement ratio again one more time by the end of 2024. It’s now expected to make that move in the first quarter of this year.
  • US (FT) – Donald Trump’s vision to reshape the world’s largest economy through protectionist policies that put “America First” will damage growth, according to Financial Times economists’ polls that contrast with investors’ bullishness over the US president-elect’s plans.
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  • RUSSIA / UKRAINE (BBG) – Russian gas stopped flowing to Europe via Ukraine, closing off a route that’s operated for five decades after Kyiv refused to allow any transit that funds Moscow’s war machine. Both sides confirmed the halt Wednesday after a key transit deal expired.
  • CHINA (BBG) – The PBoC injected massive liquidity into the market at the end of 2024 without using high-profile stimulus, as officials preserve policy space before US President-elect Donald Trump returns to office. The PBoC previously flagged it could free more cash for banks by cutting the reserve requirement ratio again one more time by the end of 2024. It’s now expected to make that move in the first quarter of this year.
  • US (FT) – Donald Trump’s vision to reshape the world’s largest economy through protectionist policies that put “America First” will damage growth, according to Financial Times economists’ polls that contrast with investors’ bullishness over the US president-elect’s plans.