Recent media speculation has been confirmed today with an announcement from People's Bank of China. Chinese central bank decided to lower reserve requirement ratio by 0.25%. According to PBoC, move will free up 500 billion yuan, slightly less then $70 billion, in long-term liquidity. Cut will become effective on December 5, 2022. Equity markets jumped in a knee-jerk move but gain was quickly erased and now DE30 and US500 trade below pre-announcement prices. CHNComp erased gain and trades flat compared to pre-announcement level.
Source: xStation5
Daily Summary: Trump, Inflation, Threats, and Persian Gulf Tensions Cast a Shadow Over Wall Street
Powell Signals Fed Patience, but Inflation Risks Are Rising!
Powell Speaking: Markets Watch Fed Policy
US Open: A Tentative Start to the New Week on Wall Street!