Chinese liquidity boost fails to fuel optimism, all eyes on US debt ceiling | MarketTalk: What’s up today? | Swissquote

Show notes

The People’s Bank of China (PBoC) kept the interest rates unchanged at today’s monetary policy meeting, but extended long-term liquidity to boost anemic Chinese growth.
But interestingly, the higher PBoC liquidity and looser PBoC rate expectations couldn’t boost global growth optimism this Monday. Crude oil slipped below $70pb, while copper futures remained under pressure.
In the US, data released Friday showed that the US consumer sentiment fell to a 6-month low, as long-term inflation expectations jumped to a 12-year high, fueling worries that the Federal Reserve (Fed) may not stop hiking the interest rates, or, it won’t be able to cut the rates anytime soon.
US yields and the dollar jumped, equities lost.
Rising US yields and the US debt ceiling impasse are major drags to investor appetite.
In Turkey, Sunday elections hint at a runoff in two weeks. Turkish yields jump, the lira and equities are sold.
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