Layoffs Come (and Keep Coming) for Tech Companies
==========

Tech companies in Silicon Valley are experiencing a wave of layoffs, signaling a cultural shift in the industry. Tesla is asking which jobs are critical, raising fears of layoffs. Alibaba has reduced its headcount by 20,000 in 2023. Worldline plans to cut about 1,400 jobs for €200 million in annual savings. The layoffs highlight that tech jobs are no longer considered sacred.

#TechLayoffs #SiliconValley #Tesla #Alibaba #Worldline

https://www.bloomberg.com/news/newsletters/2024-02-07/tech-layoffs-aren-t-taboo-as-silicon-valley-keeps-cutting-jobs


Biden’s LNG Move Is a Failure Three Times Over
==========

President Joe Biden's Department of Energy has halted pending approvals of exports of liquefied natural gas (LNG) while studying the economic and environmental effects. This move, while aiming to fight climate change, is ill-timed and unwise. Reducing US exports of LNG in the short term will force buyers to seek supplies from less regulated producers and rely more on dirtier fuels like coal. This undermines the effort to defeat Russia in Ukraine and may increase global greenhouse gas emissions.

#Biden #Lng #Exports #ClimateChange #Russia #Ukraine #GreenhouseGasEmissions

https://www.bloomberg.com/opinion/articles/2024-02-07/biden-s-halt-on-lng-export-approvals-hurts-us-security-and-environment


Iran Diplomat Likens Link With Militia Proxies to NATO Alliance
==========

Iran's ambassador to the United Nations, Saeid Iravani, likened Iran's alliance with militias across the Middle East to NATO. He stated that the relationship between Iran and the resistance groups in the region can be compared to the NATO treaty. However, he denied that Iran has direct control over these groups. The comments were made in an interview with NBC News. The diplomat delivered his remarks with a wry smile, amidst escalating regional tensions.

https://www.bloomberg.com/news/articles/2024-02-07/iran-diplomat-likens-link-with-militia-proxies-to-nato-alliance


Powell Ratchets Up Concern on US Fiscal Path
==========

Fed Chair Jerome Powell and US Treasury Secretary Janet Yellen express rising concerns over US debt. Powell's recent comments suggest an evolution in his views on the US fiscal path. The article highlights the dissonance in comments between Powell and Yellen from one year ago. Contact information for feedback and tips is provided.

#UsDebt #JeromePowell #JanetYellen #FiscalPath

https://www.bloomberg.com/news/newsletters/2024-02-07/powell-ratchets-up-concern-on-us-fiscal-path


A Soft Landing for the US Economy Could Slip Away
==========

Businesses and consumers can withstand overly restrictive borrowing costs for only so long. Stocks and bonds rallied at the end of last year on the hope of a seemingly improbable combination of dynamics playing out to support financial assets in 2024 — cooling inflation, solid economic growth, a resilient labor market, and as much as 150 basis points of interest-rate cuts. Economic growth to start the year, but some recent data and comments from Fed Chair Jerome Powell have made that nirvana-like set of conditions less probable. A couple of key business sentiment measures have raised the possibility that a pickup in production could fuel a pickup in inflation. At the same time, Powell has said that the Fed wants further evidence of a sustainable easing in price pressures before cutting rates.

https://www.bloomberg.com/opinion/articles/2024-02-07/a-soft-landing-for-the-us-economy-could-slip-away


Athens Airport Stock Rises in Debut on Greek Stock Exchange
==========

Athens International Airport SA jumped 15% at the start of trading on the Athens Stock Exchange, in the country’s biggest initial public offering in more than two decades. The stock began trading at €9.4 a share, compared to the IPO price of €8.2, the high end of the initial range.

#AthensAirport #GreekStockExchange #InitialPublicOffering #StockMarket

https://www.bloomberg.com/news/articles/2024-02-07/athens-airport-stock-rises-in-debut-on-greek-stock-exchange


Biden Wins Nevada Democratic Primary, AP Says
==========

Joe Biden has won the Nevada Democratic primary, according to the Associated Press. He faced no serious challenger in the first battleground state contest of the 2024 cycle. Biden focused on appealing to Nevada's Black and Latino voters and criticized Republican Party frontrunner. He won Nevada by two percentage points in 2020.

https://www.bloomberg.com/news/articles/2024-02-07/biden-wins-nevada-democratic-primary-ap-says


Sovereign Debt Ratings Keep Proving Worthless
==========

Greece's Hellenic Republic debt has delivered a return of 14% over the past years, the highest among sovereign borrowers with investment-grade credit ratings. Greece was only upgraded to BBB- by S&P Global Ratings in October, demonstrating the futility of using traditional ratings of creditworthiness. Greece raised money at a lower cost than investment-grade rated countries on average. Market prices show Greece would be able to borrow right now at an interest rate about 18 basis points less than countries rated AA.

#SovereignDebt #CreditRatings #Greece

https://www.bloomberg.com/opinion/articles/2024-02-07/sovereign-debt-ratings-keep-proving-worthless


Made in America May Be Stamped on China Stimulus
==========

Beijing is closely watching the Federal Reserve's moves as they may hold the key to a successful recovery in China's economy. China's efforts to boost its economy have been met with disappointment, with initiatives being cautious and vague. The country has limited room to maneuver without a decisive shift by the Fed, as officials fear weakness in their currency. The People's Bank of China can make small cuts in borrowing costs, but the effect is likely to be muted. Punitive measures, such as tightening trading restrictions, will only sap confidence.

#China #Economy #Stimulus #FederalReserve #InterestRates

https://www.bloomberg.com/opinion/articles/2024-02-06/fed-rate-cut-decision-may-impact-china-economic-stimulus


Biden’s Economic Woes Look a Lot Like Another President’s
==========

Joe Biden's approval rating is in the high 30s, and people are angry about the country's recent economic turmoil, including inflation. His opponents have seized on his advanced age as an electoral liability. The article compares Biden's economic problems in the 2024 election to Ronald Reagan's in 1984. Reagan faced similar challenges with a low approval rating and a struggling economy. The article suggests that Biden's reelection campaign may face similar difficulties.

https://www.bloomberg.com/news/newsletters/2024-02-06/biden-s-economy-problems-in-2024-election-look-like-reagan-s-in-1984


Stock Market Today: Dow, S&P Live Updates for February 6 - Bloomberg
==========

Chinese shares rallied after authorities intensified rescue efforts, defying broader weakness in Asia as hopes ebbed for a swift Federal Reserve pivot toward policy easing. The Hang Seng Index rose 2% while the mainland benchmark of CSI 300 was up 1.8%. The gains came after Beijing took more steps to stem a stock rout, such as widening trading curbs on investors including quantitative funds. A move by the nation’s sovereign wealth fund to further increase holdings of exchange-traded funds also lifted investor mood.

#StockMarket #Dow #S&p #China #FederalReserve

https://www.bloomberg.com/news/articles/2024-02-05/stock-market-today-dow-s-p-live-updates


Five Things You Need to Know to Start Your Day: Asia
==========

China tightens trading restrictions on domestic institutional investors and some offshore units to stem the rout in stocks. Caps are imposed on some brokerages' cross-border total return swaps with clients, limiting a channel used by China-based investors to short Hong Kong stocks. Chinese brokers using the channel to buy mainland shares for their offshore units are told not to reduce their positions. Investors are withdrawing cash from US-listed ETFs tracking Chinese stocks.

https://www.bloomberg.com/news/newsletters/2024-02-05/five-things-you-need-to-know-to-start-your-day-asia


What Economic Models Say About the 2024 Presidential Election
==========

Two prominent economic models offer a somewhat better view for President Joe Biden's reelection campaign against Donald Trump. While polls generally paint a grim picture for Biden, the economic models provide some optimism for the incumbent.

https://www.bloomberg.com/news/newsletters/2024-02-05/what-economic-models-say-about-the-2024-presidential-election


Balancing Trade with China
==========

Eswar Prasad, Cornell University Senior Professor of International Trade Policy, discusses the current balance of trade between the US and China. He explains that the Trump tariffs on China have continued under President Biden, leading to a decrease in imports from China. The trade deficit with China is likely to show the smallest goods trade deficit relative to US GDP in the last 20 years. However, it is unclear whether imports from China have fallen or if they have been diverted through other countries. Prasad also addresses the differences between Trump and Biden's trade policies and the potential effects of a 60% tariff on goods from China. He mentions that the uncertainty surrounding trade policy creates challenges for investors and businesses, both foreign and domestic. Prasad notes that while there may be opportunities in China's economy, there is a significant amount of uncertainty in every dimension. He also discusses the potential winners in the context of deteriorating trade relations between the US and China, highlighting countries such as India, Vietnam, and Mexico that have more open trade relationships with the US. Prasad concludes by emphasizing the need for policies that restore confidence in China's economy and direction.

#Trade #Us #China #Tariffs #Imports #TradeDeficit #Investment #Uncertainty

https://www.bloomberg.com/news/videos/2024-02-05/balancing-trade-with-china


US, China Officials to Meet in Beijing, Furthering Economy Talks
==========

US and Chinese officials will hold talks on economic issues in Beijing this week. A five-person delegation from the US Treasury will meet Chinese counterparts as part of the 'economic working group' established last year. The discussions will cover topics including the macroeconomic outlook, investment-screening regimes, and coordination on debt and climate change.

#Us #China #Economy #Talks #Beijing

https://www.bloomberg.com/news/articles/2024-02-05/us-china-officials-to-meet-in-beijing-furthering-economy-talks


US Economy Is Remarkably Strong Compared to Europe, OECD Economist Says
==========

The US economy is showing "remarkable strength" compared with Europe, according to OECD Chief Economist Clare Lombardelli. The OECD revised up its forecasts for US growth next year while cutting expectations for most of the euro area. Lombardelli attributes the weaker European economies to the tightening of monetary conditions and the shocks of the energy price surge in recent years. The euro area is now expected to expand only 0.6% in 2024.

#UsEconomy #Europe #Oecd #EconomicGrowth

https://www.bloomberg.com/news/articles/2024-02-05/us-economy-is-remarkably-strong-as-eu-weak-oecd-economist-says


Axa’s Thomas Buberl Wants to ‘Scale Up’ Corporate Business
==========

Axa SA's CEO Thomas Buberl plans to 'scale up' the firm's business insuring corporate risks in the next phase of growth. The company has shifted its focus from life insurance to property & casualty and health insurance to make it less sensitive to financial markets. Buberl expects more claims in the marine and aviation industry as geopolitical crises multiply. Axa is expected to unveil a new strategic plan later this month.

#Axa #ThomasBuberl #CorporateBusiness #Insurance #Property&Casualty #HealthInsurance #GeopoliticalCrises

https://www.bloomberg.com/news/articles/2024-02-05/axa-s-thomas-buberl-wants-to-scale-up-corporate-business


Bloomberg Daybreak: Asia 02/05/2024
==========

The article discusses the recent market developments and policy responses in Asia. It mentions the US strikes on Iraq, the expectations around the Fed's rate cuts, and Beijing's pledge to stabilize its local stock market. It also covers the weak Chinese economy, the deflationary cycle, and the potential impact of additional trade tariffs. The article highlights the need for policy collaborations, including monetary and fiscal easing, to address the challenges faced by the Chinese economy. The market volatility and concerns about forced liquidation of pledged shares are also discussed. Additionally, the article mentions the flow of funds into foreign stock ETFs as investors seek alternatives to the onshore market.

#Asia #MarketDevelopments #PolicyResponses #UsStrikes #FedRateCuts #Beijing #ChineseEconomy #DeflationaryCycle #TradeTariffs #ForcedLiquidation #ForeignStockEtfs

https://www.bloomberg.com/news/videos/2024-02-05/bloomberg-daybreak-asia-02-05-2024


Atlantic Council's Wechsler on US Strikes Against Houthis
==========

William Wechsler, Senior Director of the Rafik Hariri Center & Middle East programs at the Atlantic Council, discusses the US strikes against Iran's forces and its proxies in the Middle East. The goal of the strikes is to reestablish deterrence that has been lost in recent months. The success of reestablishing deterrence depends on the actions of Iran, its partners, and its proxies. Iran does not want a regional war because it would lose, and the US does not want a regional war because it would be devastating for the region and put US interests at risk. However, there is a potential for misunderstanding and escalation once the bombs start dropping. Iran and its proxies have a history of steadily escalating and waiting to be pushed back. The US and Iran are likely to have tough rhetoric in an election year, but the most important thing is the ongoing diplomatic discussions led by Secretary Blinken in the region. The US is trying to create a new relationship between the US, Saudi Arabia, and Israel, which is a worst-case scenario for Iran. The US and its allies have the ability to support Ukraine, support Israel, and protect their own interests in the region simultaneously. The conflict in the Middle East raises the threat of a wider regional war, but both the US and Iran want to avoid that outcome. The US and Iran are unlikely to shift their relations significantly this year, as Iran sees 2024 as an opportunity to push the US out of the region. The US and its allies have the ability to walk and chew gum at the same time, supporting multiple fronts and protecting their interests. The ongoing diplomatic discussions aim to broker a ceasefire and create a new geopolitical sentiment in the region. The US wants to end its forever war, but the conflict in the Middle East and the ongoing war in Gaza raise the risk of a broader regionalization. Hamas has not yet accepted a significant deal on the table for a ceasefire, but the ball is in their court. The conflict in the Middle East has humanitarian consequences, and a ceasefire could be achieved if Hamas wanted to.

#UsStrikes #Iran #MiddleEast #Deterrence #RegionalWar #Diplomacy #Ceasefire #Geopolitics

https://www.bloomberg.com/news/videos/2024-02-05/atlantic-council-s-wechsler-on-us-mideast-strikes-video


Powell Tells ‘60 Minutes’ Fed Is Wary of Cutting Rates Too Soon
==========

Federal Reserve Chair Jerome Powell said Americans may have to wait beyond March for the central bank to cut interest rates as officials look for more economic data to confirm that inflation is headed down to 2%. In an interview with CBS’s 60 Minutes, Powell explained the central bank’s rationale for eventual reductions to a broad public audience. He emphasized the need for more time to see if the recent good economic readings are a true indicator of where inflation is heading. Powell stated that the Federal Open Market Committee is unlikely to reach a level of confidence about inflation's path by its March meeting. He also mentioned that policymakers do not factor politics or elections into their policy decisions. The interview provided Powell an opportunity to communicate to a broader audience just days after the Fed's decision to hold interest rates unchanged. Treasuries fell across all maturities in Asia as Powell's comments underscored the likelihood that bond investors had overshot in pricing for rapid rate cuts.

#JeromePowell #FederalReserve #InterestRates #Inflation #EconomicData

https://www.bloomberg.com/news/articles/2024-02-05/powell-tells-60-minutes-fed-likely-to-wait-beyond-march-to-cut


An Economic Revolution Comes Late Down Under
==========

The Reserve Bank of Australia (RBA) is implementing a reform to hold press conferences after rate decisions, a practice that is common for central banks globally but was resisted by the RBA. This marks a significant change for the RBA, which had fallen behind best practices in communication. The new governor, Michele Bullock, will make her debut press conference following a rate decision on Tuesday. The RBA's move to embrace communication reflects the growing importance of talk as a critical part of monetary policy.

#ReserveBankOfAustralia #CentralBank #MonetaryPolicy #Communication #PressConference

https://www.bloomberg.com/opinion/articles/2024-02-04/rba-revolution-comes-late-to-australian-central-bank


Pennsylvania Supreme Court Takes Aim at Politics of Cruelty
==========

The Pennsylvania Supreme Court directed a lower court to consider a challenge to the state's 1982 prohibition on Medicaid funding for abortions in cases other than rape and incest. The 3-2 decision was seen as an invitation to declare the ban a violation of the state's Equal Rights Amendment. Texas, where abortion is effectively banned, leads the nation in pregnancies resulting from rape. Texas Governor Greg Abbott's comment dismissing concerns about women forced to bring a rapist's fetus to term is criticized after over 26,000 pregnancies resulted from rape.

#Abortion #PennsylvaniaSupremeCourt #MedicaidFunding #EqualRightsAmendment #Texas #Rape

https://www.bloomberg.com/opinion/articles/2024-02-04/pennsylvania-supreme-court-abortion-decision-is-win-for-abortion-rights


NYC, LA, Dallas to Learn Which Will Host World Cup Final in 2026
==========

FIFA will unveil the match schedule for the 2026 World Cup on Sunday, including the location of the final. New York, Los Angeles, and Dallas are the top contenders to host the final. New York's MetLife Stadium, Dallas' AT&T Stadium, and Los Angeles' SoFi Stadium are the potential venues. The final decision will be announced by FIFA President Gianni Infantino. The US will host the later rounds of the tournament, while Canada and Mexico are co-hosting the 2026 World Cup.

#Fifa #WorldCup #2026 #NewYork #LosAngeles #Dallas

https://www.bloomberg.com/news/articles/2024-02-03/nyc-la-dallas-to-learn-which-will-host-world-cup-final-in-2026


Biden Delivers Reprisal to Iran With Room for De-Escalation
==========

US strikes on Iran's militias and proxy forces fulfilled President Biden's promise to retaliate for the deaths of three US soldiers yet left room for both sides to back away from a high-risk confrontation. The strikes fit with a plan Biden had telegraphed for days: He would inflict pain on Iran for the drone attack on a US base in Jordan by one of the Iraq-based militias it supports. He would demonstrate the full range of American power. And he would also keep his options open.

#Us-iranRelations #Retaliation #Militias #ProxyForces #DroneAttack

https://www.bloomberg.com/news/articles/2024-02-03/biden-delivers-reprisal-to-iran-with-room-for-de-escalation


Vivendi Is Proposing to Break Up Bolloré’s Media Empire Into Four
==========

Vivendi is proposing to break up Bolloré's media empire into four separate entities. The proposal comes as Vivendi seeks to unlock value from its stake in Bolloré and increase its own focus on the music and entertainment industries. The four entities would include Vivendi's own Universal Music Group, as well as separate companies for Canal+ Group, Editis, and Havas. The move is seen as a way to streamline operations and allow each entity to pursue its own growth strategies. The proposal is subject to approval by Bolloré's board of directors.

#Vivendi #Bolloré #MediaEmpire #BreakUp #UniversalMusicGroup #Canal+Group #Editis #Havas

https://www.bloomberg.com/news/articles/2024-01-30/vivendi-is-proposing-to-break-up-bollore-media-empire-into-four


Is the Global South’s Message Getting Through?: Next Africa
==========

Kenya’s Ruto believes that rich nations are starting to hear calls from Africa and the Global South in the fight against climate change and financial system reform.

https://www.bloomberg.com/news/newsletters/2024-02-02/kenya-s-ruto-sees-rich-nations-hearing-calls-from-africa-global-south


Fed’s Goolsbee Says He Wants to See More Inflation Progress
==========

Federal Reserve Bank of Chicago President Austan Goolsbee wants to see more evidence of progress towards the 2% inflation goal before considering cutting interest rates. Goolsbee did not rule out a rate cut in March but stated that he prefers to wait for more data before making a decision. The comments were made in an interview on PBS.

#FederalReserve #Inflation #InterestRates

https://www.bloomberg.com/news/articles/2024-02-02/fed-s-goolsbee-says-he-wants-to-see-more-inflation-progress


China Gloom Spurs Record $2 Billion Rush Into Foreign Stock ETFs
==========

In January 2024, a record amount of Chinese money, totaling $2 billion, flowed into overseas equities through 33 onshore exchange-traded funds (ETFs) that track foreign benchmarks excluding Hong Kong. This is the largest monthly inflow since late 2020. More than half of the money went into US stocks, particularly the S&P 500, which reached new highs, while $204 million was invested in Japanese stocks.

#China #StockMarket #Etfs #Investment

https://www.bloomberg.com/news/articles/2024-02-03/china-gloom-spurs-record-2-billion-rush-into-foreign-stock-etfs


Surveillance: El-Erian Says ‘Wow’ Jobs Report Threatens a Fed Headache
==========

The US jobs report for February 2, 2024, exceeded expectations with 353,000 new jobs and strong average hourly earnings. Mohamed El-Erian, Chief Economic Advisor at Allianz, described the report as a 'wow' and believes it poses a headache for the Federal Reserve. The strong wage growth presents a quandary for policymakers who were considering cutting rates. Wall Street reacted positively to the report.

#UsJobsReport #FederalReserve #WageGrowth

https://www.bloomberg.com/news/newsletters/2024-02-02/el-erian-says-wow-us-jobs-report-tees-up-a-headache-for-the-fed


FTSE 100 Live: Pound, Gilts Plunge After Hot US Jobs Report
==========

The pound and gilts experience heavy losses after a hot US jobs report. Traders are uncertain about the Bank of England's rate cuts. Superdry shares surge on potential takeover interest. Budget airlines EasyJet and Wizz Air rise due to predicted strong consumer demand for travel. Apple's sales in China continue to decline while Mark Zuckerberg's wealth surges as Meta rallies. The FTSE 100 live blog provides news and analysis vital to UK markets.

#Ftse100 #Pound #Gilts #Superdry #Easyjet #WizzAir #Apple #Meta #MarkZuckerberg

https://www.bloomberg.com/news/live-blog/2024-02-02/ftse-100-what-s-moving-uk-markets-right-now-markets-today-ls4ahh73


Markets Don’t Know What to Expect Anymore, and That’s Good
==========

The article discusses how the pandemic economy and its policies have brought back higher inflation and interest rates, altering expectations in financial markets. There is wide variation among investors, consumers, and professional forecasters about future inflation rates and bond yields. The author argues that this diversity of economic forecasts can lead to a richer discussion and help expose previously unseen risks and weaknesses.

https://www.bloomberg.com/opinion/articles/2024-02-02/markets-don-t-know-what-to-expect-anymore-and-that-s-good


Maybank's Loh: Diversify Beyond US Mega-Tech Stocks
==========

Maybank Group Wealth Mgmt CIO Eddy Loh suggests diversifying beyond the U.S. mega-tech stocks to other value tech plays, as well as sectors including health care and materials. He speaks with Haslinda Amin and Rishaad Salamat on "Bloomberg Markets: Asia."

https://www.bloomberg.com/news/videos/2024-02-02/maybank-s-loh-diversify-beyond-us-mega-tech-stocks-video


PBOC May Lower 1Y MLF by 20 to 30bps in 2024: Standard Chartered Says
==========

Standard Chartered Bank's head of China macro strategy, Becky Liu, predicts that the People's Bank of China (PBOC) may lower the 1-year Medium-term Lending Facility (MLF) rate by 20 to 30 basis points in 2024. Liu expects China's monetary policy to continue easing as the country undergoes an economic transition, with inflation staying low and the authorities showing conviction in pushing for continued economic reforms. The PBOC has been cutting rates over the past two years, and Liu believes that 2024 will provide a better environment for further rate cuts. She also mentions that credit growth might be slightly lower in the first quarter, followed by stronger growth in the second and third quarters. Liu forecasts that Chinese ten-year yields will go lower, and she expects a material change in SGB supply, with the official budget deficit estimated to be around 3% of GDP. Additionally, she notes that the PBOC's communication has improved, and the reinstatement of the credit unit helps rebuild confidence in the market.

#Pboc #StandardChartered #China #MonetaryPolicy #MlfRate #Inflation #CreditGrowth #ChineseTen-yearYields #SgbSupply

https://www.bloomberg.com/news/videos/2024-02-02/pboc-may-lower-1y-mlf-by-20-to-30bps-in-2024-stanchart-video


US Senate’s Border, Ukraine Aid Deal on Path for Vote Next Week
==========

Senate negotiators are closing in on a US migration and Ukraine aid deal and plan to release it as soon as Friday. Senate Majority Leader Schumer said the deal would be made available to the public no later than Sunday, and the Senate would hold the first procedural votes on the measure no later than February 7.

#UsSenate #Border #UkraineAid #Vote

https://www.bloomberg.com/news/articles/2024-02-01/us-senate-s-border-ukraine-aid-deal-on-path-for-vote-next-week


FTSE 100 Live: Bank of England Opens Door to Interest Rate Cuts
==========

The Bank of England keeps interest rates at 5.25% with the first three-way split in the vote since 2008. The central bank opens the door for interest rate cuts but keeps the outlook relatively flexible. Shell's profit exceeds estimates and Glencore expects earnings to be at the lower end of a range. Lewis Hamilton will join Ferrari F1 team in 2025, leaving Mercedes.

#Ftse100 #BankOfEngland #InterestRates #Shell #Glencore #LewisHamilton #Ferrari #Mercedes

https://www.bloomberg.com/news/live-blog/2024-02-01/ftse-100-live-what-s-moving-uk-markets-right-now-markets-today


Bond Traders Learned a Twisted Lesson From Evergrande’s Fall
==========

Investors penalize China Inc. while seeking notes issued elsewhere in Asia. Evergrande, the world's most indebted developer, was ordered into liquidation by a Hong Kong court. Global investors are left holding worthless notes and may have to wait for years to recover a few cents on the dollar. Dollar bond investors should be cautious and learn from this experience.

#BondTraders #Evergrande #ChinaInc. #CreditRisks #Investors

https://www.bloomberg.com/opinion/articles/2024-02-01/evergrande-bond-traders-learned-a-twisted-lesson-from-its-fall


Surveillance Special: Powell Hugs Fed Statement, Then Goes Rogue
==========

Federal Reserve Chair Jerome Powell expresses doubts about a rate cut in March, causing concern among traders. Former Federal Reserve Vice Chair advises Powell to hug the Fed statement. This is a bonus edition of the Bloomberg Surveillance newsletter. Published on January 31, 2024.

https://www.bloomberg.com/news/newsletters/2024-01-31/powell-hugs-fed-statement-then-goes-rogue-with-doubts-on-march-cut


ANZ's Yeung on China's Economy
==========

Raymond Yeung, ANZ Chief Greater China Economist, discusses China's economic outlook amid persistent deflation pressures. He mentions that the economy is slowing down and the numbers should be weak. Yeung believes that China is already in a deflationary era and that the deflationary trend will continue. He does not expect any meaningful recovery in the Chinese property market in 2024. Yeung also highlights the importance of employment and financial stability as top policy objectives for the Chinese government. He mentions that the government is trying to strengthen party control in financial institutions and reform financial policy. Yeung concludes that the government cares about both financial stability and economic fundamentals. The interview was conducted on Bloomberg's "Daybreak Asia" with Paul Allen and Annabelle Droulers.

#China #Economy #Deflation #PropertyMarket #Employment #FinancialStability

https://www.bloomberg.com/news/videos/2024-01-31/anz-s-yeung-on-china-s-economy-video