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MNI European Markets Analysis: China Equities Pushing Higher

MNI (SYDNEY)
  • Focus at the start of this week has been reaction to China's weekend MOF briefing. After a volatile start to trading onshore equities are higher, although HK gains are more modest. The MOF was strong on rhetoric particularly around housing and local government debt. The market may have been looking for more concrete details around the fiscal outlook though.
  • The USD is firmer but away from session best levels. Commodities are mixed, with iron ore higher with China property stocks, while oil is softer.
  • It has been a quiet start to the week for fixed income markets with Japan out today and a US holiday later.
  • Looking ahead, the Fed’s Kashkari and Waller appear but there are no US data due to a holiday. BoE’s Dhingra also speaks.

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MNI (SYDNEY)
  • Focus at the start of this week has been reaction to China's weekend MOF briefing. After a volatile start to trading onshore equities are higher, although HK gains are more modest. The MOF was strong on rhetoric particularly around housing and local government debt. The market may have been looking for more concrete details around the fiscal outlook though.
  • The USD is firmer but away from session best levels. Commodities are mixed, with iron ore higher with China property stocks, while oil is softer.
  • It has been a quiet start to the week for fixed income markets with Japan out today and a US holiday later.
  • Looking ahead, the Fed’s Kashkari and Waller appear but there are no US data due to a holiday. BoE’s Dhingra also speaks.

MARKETS


US TSYS: Tsys futures Slightly Lower, Ranges Narrow On Low Volume

Keep reading...Show less