China’s top legislative body reviewed a proposal to transfer some off-balance-sheet debt of local governments to their official accounts, aiming to ease their financial burden in a move foreshadowed by officials. The National People’s Congress Standing Committee held a meeting on Monday morning, where it discussed a plan to lift local governments’ debt ceiling to…
Chinese builder Country Garden Holdings Co.’s sales slump moderated in October, a sign of improving industry prospects following China’s stimulus blitz that include measures for property developers. Contracted sales for October declined 31% from a year earlier to 4.3 billion yuan ($610 million), according to corporate filings. That narrowed from a 41% on-year drop in…
Strategists at JPMorgan Chase & co. and Morgan Stanley agree: bond yields will set the direction of travel for US equities in the aftermath of Tuesday’s election. A win for Donald Trump together with a Republican sweep of Congress followed by limited moves in the 10-year Treasury yield on expectations of improving economic growth would…
Chinese lawmakers are gathering in the shadow of the US election to sign off on a fiscal package that’s set to run into the trillions of yuan yet is unlikely to put the market fully at ease. The stakes have grown for this week’s conclave of the Standing Committee of the National People’s Congress, the…
For the big money on Wall Street, there’s the prep that’s bound to come with a coin-toss election that could dramatically swing policy. Trading desks staffed through the night, with teams in Hong Kong and Singapore enlisted to help. Tracking popular “Trump trades” — long the dollar, short bonds — ready to pile in or…
Just before a hotly contested US election considered a toss-up, options traders across markets appear to be reducing risk and bracing for more volatility. Equity options volatility climbed through most of October even as the market’s swings were muted, in anticipation of not just the upcoming election but also earnings season and a Federal Reserve…
Asian equities fell after US stocks dropped on lackluster tech results. A rally in Treasuries favored the long end of the curve ahead of US jobs data due later Friday. Shares in Japan, South Korea and Australia declined, while a gauge of US-listed Chinese companies dropped for a third straight day on Thursday. The S&P…
This is Bloomberg Opinion Today, a charmingly unique kind of boat filled with Bloomberg Opinion’s opinions. Sign up here . The dating scene has gotten so grim that some people have resorted to passing out “rizzness” cards — that’s rizz + business cards, for those not chronically online — in public. But Dave Lee says…
Wall Street in the week ahead will see plenty of economic data and earnings reports from five megacap companies. On the economic front, investors will closely monitor US Q3 GDP numbers, the Federal Reserve’s preferred inflation gauge – Personal Consumption Expenditures price index, and jobs report. Next week, stocks of five megacap companies — Apple,…
India is shaping up to be a destination for investors seeking a relative shelter from financial volatility linked to the US election. A steady influx of foreign capital has positioned the nation’s bonds among top performers in developing markets this year, while the country’s stock market hit a record high last month, buoyed by robust…