China is again manipulating the stock markets. Beijing announced today that it will cut tariffs on US goods, followed by a brilliant rally on Asian stock markets. This could help the Dax reach a new all-time high today. Beijing’s manoeuvre is quite transparent. They want to use the tariff cuts to persuade the US to make changes to the Phase 1 deal (which will probably not work). Meanwhile, Goldman Sachs expects global GDP to be 2% lower in the first quarter due to the effects of the coronavirus, while the rating agency S&P warns of the impact on supply chains. Volkswagen is most affected. And there are discrepancies with the figures reported by China for coronavirus infections.
There is movement in the markets now! As Market rumors say, Chinese officials who manage foreign exchange reserves for the Country are planning to buy either less or no US government bonds at all! The […]
We have already heard about these mysterious 17 elements in our periodic table – the rare earths. 16 of these are needed in a modern smartphone. But hardly anyone would have guessed that they could […]
US Treasury Secretary Steve Mnuchin has just said in an interview with US financial channel CNBC that the deal between the US and China is 90% complete. He hopes that there will be a deal […]