Free Trial

Treading Water After Rally


Equity markets in Asia struggled to find decisive direction, major markets hovering between minor losses and gains after a strong start to the week. In mainland China major markets are broadly flat, the PBOC injected a net CNY 40bn of liquidity into the system via OMO's to maintain liquidity into month end. Markets in Japan also hovering around neutral, Japan's Covid-19 task force may formalise the declaration of emergency for another eight prefectures today. In the US futures are slightly lower, giving back some of the rally this week. German Ifo survey, flash U.S. durable goods as well as comments from Fed's Daly & ECB's de Guindos take focus from here, while participants await Fedspeak out of this week's Jackson Hole meetings looking further ahead.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.