Why China’s Yuan Won’t Take Off 11/16/2018, 8:19:05 PM A weakening economy—and the trade war with Washington, higher U.S. interest rates, and free spending by Chinese students and tourists abroad—are pressuring the currency. ✔ Most of China’s financial sector remains in state hands, while private citizens are limited to $50,000 in foreign currency ✔ Instead, Beijing is deploying supply-side tax cuts for individuals, and probably next year for corporations, and juicing credit by easing banks’ reserve requirements ✔ They don’t want investors to form a single-direction expectation, which leads to herd behavior, Pictet’s Chen says Dow Gains 124 Points as Market Sends Mixed Messages 11/16/2018, 11:14:52 PM While the S&P 500 rose, the Nasdaq fell, and investors are still struggling to figure out what’s next for the Fed and the trade war. ✔ According to a machine-learning model from Bank of America Merrill Lynch based on numerous fundamental indicators, today’s economy is mo...
Monitor and create news series by subjects