one hour ago
European markets open mixed
European markets started the new trading week in mixed territory, with the pan-European Stoxx 600 index rising slightly to trade 0.03% higher.
The UK’s FTSE 100 rose 0.07% to 8,439, Germany’s DAX fell 0.13% to 18,748, France’s CAC fell 0.4% to 8,216, and Italy’s FTSE MIB rose 0.4% to 34,808.
6 hours ago
China is reportedly moving ahead with plans to sell $138 billion worth of long-term bonds
China has reportedly begun plans to sell 1 trillion yuan ($138.24 billion) worth of long-term bonds, the Financial Times and Reuters report.
The Financial Times said The People’s Bank of China “asked brokers for advice on pricing the sale of the first batch of sovereign bonds.”
Meanwhile, Reuters said the bonds would be issued starting May 17, citing sources who said there would be 300 billion yuan of 20-year bonds, 600 billion yuan of 30-year bonds, and 100 billion yuan of 50-year bonds.
Announced in March, these ultra-long-term bonds are designed to finance major projects aligned with national strategies.
These bonds have only been issued three times before, during the Asian financial crisis in 1998, to capitalize the China Investment Corporation in 2007, and during the Covid-19 pandemic in 2020.
– Lim Hui Ji
7 hours ago
Shein is said to be ramping up IPO preparations in London amid US hurdles
Chinese company Shein is stepping up its preparations to go public in London after a New York listing attempt hit by regulatory challenges. Reuters reportedciting sources familiar with the matter.
The fast-fashion retailer plans to file documents with the London Stock Exchange (LSE) as early as this month and will update China’s securities regulator on the location of the IPO, according to the report.
Shein filed for a U.S. IPO in late November, valuing it at $66 billion.
— Shreyashi Sanyal, Reuters
9 hours ago
China’s inflation in April came in slightly higher than expected
Consumer prices in China rose faster than expected, with Consumer price index Data from the National Bureau of Statistics showed on Saturday that April recorded a 0.3% increase year-on-year.
This was higher than the 0.2% forecast of economists polled by Reuters, and more than the 0.1% increase recorded in March.
separately, Producer price index in China It decreased by 2.5% compared to April of last year, compared to a decrease of 2.8% in the previous month.
– Lim Hui Ji
11 hours ago
Stocks face a major inflection point this week with April inflation data
Wednesday’s CPI report will give much-needed insight into the direction the Fed will take monetary policy from here.
Inflation has risen in recent months and raised concerns that price pressures could rise persistently again. Fed Chairman Jerome Powell said last month that the Fed’s next step would likely not be to raise interest rates and reiterated the data-driven approach. Sentiment was helped by stocks that found a stable footing thanks to a strong first-quarter earnings season.
However, Wednesday’s CPI reading will give investors a litmus test on whether or not a rate hike is off the table.
CNBC Pro subscribers can read more here.
– Brian Evans
11 hours ago
Stock futures were little changed
“Certified music scholar. Freelance analyst. Social mediaholic. Hipster-friendly web nerd. Zombie buff.”