Free Trial
US EURODLR FUTURES

EDU4/Z4/H5 Fly Given

JGBS AUCTION

Japanese MOF sells Y970.5bn 20-Year JGBs:

JGBS

PREVIEW: 20-Year Supply Due

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Goldman Assess The Latest Round Of Policymaker Communique

CHINA

Goldman Sachs note that the “teleconference held by Premier Li, this week's State Council meeting and the PBOC's teleconference all suggest that policymakers in China are in greater urgency to support the economy, under the backdrop of very weak activity growth, anaemic recovery month-to-date in May, and rising unemployment rates. Premier Li's requirement on “achieving positive year-over-year economic growth in Q2" and the statement that "Q2 economic indicators should show the actual underlying growth momentum" may also be an implicit acknowledgment that the "around 5.5%" growth target set in early March this year is very challenging. Barring another major wave of Covid resurgence, we do expect growth to show a solid rebound in June and Q3 under policy support. However, downward growth pressures remain high amid Covid control and the very sluggish property sector. Policymakers might also announce additional easing measures in the near future should growth disappoint or the unemployment rate continue to climb.”

155 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Goldman Sachs note that the “teleconference held by Premier Li, this week's State Council meeting and the PBOC's teleconference all suggest that policymakers in China are in greater urgency to support the economy, under the backdrop of very weak activity growth, anaemic recovery month-to-date in May, and rising unemployment rates. Premier Li's requirement on “achieving positive year-over-year economic growth in Q2" and the statement that "Q2 economic indicators should show the actual underlying growth momentum" may also be an implicit acknowledgment that the "around 5.5%" growth target set in early March this year is very challenging. Barring another major wave of Covid resurgence, we do expect growth to show a solid rebound in June and Q3 under policy support. However, downward growth pressures remain high amid Covid control and the very sluggish property sector. Policymakers might also announce additional easing measures in the near future should growth disappoint or the unemployment rate continue to climb.”