Herd instinct is the human nature to follow the crowd and act collectively – and market expectation always does not change smoothly but t
上海乌托邦ends to over-react to new information. The current market expectation of the US Federal Reserve’s rate cuts is a case in point.
On June 20, the latest meeting of the Fed’s policy-setting Federal Open Market Committee shrugged off the market’s high expectation of rate cuts and gave no clear policy signal confirming a cut.
We believe the market had overreacted in forming its expectation of rate cuts after the Fed swiftly adopted a dovish tone from the end of last上海乌托邦
year. Specifically, we believe market expectation – it has formed since May – of a change in policy stance, as well as the timing and degree of rate cuts, may not fully materialize.
We will elaborate on this now. It should be noted the misconceived expectation of Fed rate cuts could ind上海乌托邦
uce a drastic reversal in investor sentiment and asset price fluctuations, if the Fed’s moves miss expectation.
Firstly, the market may have overestimated the degree of the Fed’s policy stance change. A clear rate cut signal may not emerge until the end of this month.上海乌托邦
According to Bloomberg, the Fed funds futures market has recently priced in a 98.5-percent chance that the Fed will lower rates at least once this year.
上海乌托邦品茶微信However, the Fed’s earlier forward guidance only indicated the end of monetary policy n
ormalization, which does not necessarily point to the beginning of a rate cut cycle. Also, the Fed h
as removed the word “patient” from the latest FOMC meeting statement but did not confirm a rate-cut stance.
We believe that because of the following two reasons, the Fed is still on cautious lookout, and t
here will not be any clear rate cut signal or plan until the next FOMC meeting at the end of this month.上海乌托邦品茶微信
Externally, the Fed is expected to stand pat until trade dispute uncertainties ease, to give itself an advantage in its game with the US Administration.
The Fed would put itself in an unfavorable position if it initiated a rate cut before majo上海乌托邦品茶微信
r uncertainties over the China-US trade dispute are removed, because the pre-emptive move may enc
ourage the US Administration to escalate the trade dispute, which will in turn pose a dilemma to the Fed.
That’s because any escalation in trade tensions will, on the one hand, d
ssipate and even offset the easing boost from rate cuts and force the Fed to accelerate the上海乌托邦品茶微信
rate cut pace. On the other hand, the escalation could further fuel imported inflation, which will significantly reduce the
Fed’s room for rate cuts. The Fed will then face a policy-making dilemma of whether to further cut rates.
Economic relations between China and Cote d’Ivoire are set to deepen, as t
he latter became the first African country to co-host the 13th China International Small and Medium En
上海品茶微信女神会所terprises Fair that takes place in Guangzhou, capital of Guangdong province, from Oct 10 to 27.
Azoumana Moutaye, head of the country’s Ministry of National Entrepreneurshi
p, Handicrafts and Promotion of SMEs, said China and Cote d’Ivoire jointly organizing the interna
tional event indicated that bilateral relations between the two countries has reached a new peak.上海品茶微信
Cote d’Ivoire, with a population of around 23 million, has become one of Africa’s most resurgent economies in recent ye
ars. Its economy will be the second-fastest growing in the world this year, as predicted by the International Monetary Fund.上海品茶微信女神会所
About 60 Ivorian enterprises led by Moutaye have participated in the exhibition, showcasing
and promoting their products in such industries as agriculture, communication, energy, construction and logistics.
Promoting SME globalization on the world stage上海品茶微信女神会所
Another foreign co-host is India. Following Russia, it is the second BRICS country that is involved in organizing the fair.
Indian Minister of Micro, Small and Medium Enterprises Kalraj Mishra hoped the fair would be上海品茶微信
tter promote the cooperation between Chinese and Indian SMEs and help them achieve more substantial results.
上海品茶微信女神会所Small and medium-sized companies play a big role in India’s economic development, as 95 percent of the country’s companies are SMEs.
During the fair, textiles, machinery and equipment, hardware and electrical appliances and other goods from 124 Indian firms will be displayed.
ue of 75 billion yuan, up 23 percent year-on-year. Its net profit totaled 34 billion yuan, jumping 25 percent over the previous year, its earnings report said.
上海千花网This year, Moutai aims to achieve sales revenue of 100 billion yuan, growing 14 p
ercent year-on-year, and reaching a net profit of 45 billion yuan. The company said it is strong and confident enough to drive further growth.
上海千花网”The stock market now shows a prominent problem of polarization. Leading
上海千花网上海品茶white-horse stocks have seen continued steady growth. The climbing share price of Mout
ai definitely gave a boost to many white-horse stocks, with the prices of several stocks reaching their new high, while some ot上海千花网
her themed stocks are being marginalized,” said Yang Delong, chief economist at the Shenzhen-based First Seafront Fund.
Market demand for liquor products will likely remain strong, and major spirit makers a
上海千花网上海品茶re expected to witness more steady and structural growth and continue to remain competitive, Zhongtai Securities said in its report.
As the sun sets and the temperatures begin to cool, the evening heats up as night markets start to boom, especially during holidays and festivals.上海千花网上海品茶
The nighttime economy means people can dine, shop and enjoy entertainment at night.上海千花网
Some cities including Beijing, Shanghai, and Jinan have published policies to support and promote the nighttime economy.
China’s electric car startup NIO recalled 4,803 ES8 vehicles, about one-third of the company’s first batch for delivery, Beijing Youth Daily reported on Friday.
The company also promised to compensate all property losses caused by accidents due to battery quality上海千花网上海品茶 according to law, the report said.
Starting from June 27, the company recalled the 4,803 ES8 electric vehicles with power battery packs manufactured between April 2, 2018, and Oct 19, 2018, a上海千花网上海品茶ccording to a notice from the State Administration for Market Regulation.
The power battery pack used in the vehicle within this recall range is equipped with a module of the specification model NEV-P50, which has the voltage sampling harness in an improper position, where it could cause a fire.
In 2018 the trade volume for food service at night increased 47 percent year-on-year,上海千花网上海品茶
which is 2 percentage points faster than the growth rate for food consumption during the day, accordin
g to statistics jointly issued by the China Tourism Academy and online consumption service provider Meituan Dianping.
d Road Initiati上海会所品茶微信ve to Africa, he said, adding that both partners should respect market pri
nciples and ensure economic and social benefits to improve the continent’s capacity for sustainable development.
Wang said more than 880 cooperation projects will be carried out in the next three years.
In a news conference on Tuesday afternoon, Vice-Minister of Com
merce Qian Keming said that in their next step, China and Africa will carry out capacity-buil
ding cooperation and promote infrastructure, trade and investment cooperation. China will increase imports fro
m Africa to ensure the continent shares in the huge Chinese market, he added.
Ugandan President Yoweri Museveni said the eight major initiatives have helped address the de
velopment challenges facing African countries and will help guide their cooperation in the right direction.
Xi and his wif上海会所品茶微信g Liyuan, were greeted by Kim and
his wife, Ri Solju, at Pyongyang Sunan International Airport upon their arrival.
Under Chinese and DPRK national flags and large welcome banners, nearly 10,000 people
lined up at the airport, waving flowers and chanting cheerful slogans to greet the Chinese guests.
Following a grand welcoming ceremony complete with a 21-gun salute, Xi headed to the square of
the Kumsusan Palace of the Sun, where he became the first foreign leader to receive a salute at the hi
ghly symbolic site. Hundreds of thousands of people lined up along the road from the airport, waving flags and flo
wers and chanting “Long Live the China-DPRK Friendship” and other slogans to welcome Xi.
The country’s first 上海后花园女神会所100-megawatt molten salt solar thermal power plant in Dunhuang, Northwest China’s Ga
nsu province, has successfully generated power while operating at full capacity on Monday morning, Chinanews.com reported.
Nearly 20 hours of operating records on Monday show the systems at the power plant have been normal and stable. The facility also s
et a new record by generating over 1.8 million kilowatt-hours of power day and night, with all indicat
ors suggesting it has reached or exceeded its designed values. This marks another important step after the plant cr
eated 1.67 million kWh of power over 34 hours of continuous operations in mid-April.
Huang Wenbo, vice-chairman of Beijing Shouhang, said the power plant has withstood the test of runni
ng under the harshest environmental conditions in different seasons, which means it can be widely used in northwestern areas.
The power station is among China’s first batch of solar thermal power generation demonst
ration projects. With an investment of 3 billion yuan ($433.1 million), it was built by Beijing Shouhang IHW Re
sources Saving Technology Co Ltd, which wholly owns the power station’s intellectual property rights.
Christensen, add上海品茶微信女神会所ing that she spoke “broken English”, said she was la
te to some place and had a meeting with her professor. He said he then offered her a ride.
Stiverson, however, pointed out later in the session that she Googled the address of One North — the apartment that she pla
nned to sign a lease on that afternoon — one minute after she got into Christensen’s car.
Christensen repeatedly claimed that he let Zhang get out of his car after she “freaked out” when
he made a wrong turn, saying, “I don’t want to keep someone I barely know in my car.”
He admitted during the questioning that he was attracted to Zhang “a reasonable amount”.
Both Manganaro and Stiverson pointed out that based on what they knew, she “didn’t get out” of his car.
hina Petrole上海会所品茶微信um and Chemical Corp, the world’s larg
est refiner by volume, has agreed to establish a joint venture with Russia’s Novatek and Gazp
rombank to market natural and liquefied natural gas (LNG) in China, Sinopec said on Thursday.
The agreement, which aims to sell LNG produced by Novatek in the Arctic, was signed fo
llowing talks in Moscow between Russian President, Vladimir Putin, and Chinese President, Xi Jinping.
The agreement will be of considerable economic and social benefit an
d will further diversify China’s natural gas imports, while meeting ever-increasing ga
s demand in the country, said Dai Houliang, China Petrochemical Corp president.
Eight life-size Terracotta Warriors from China are among the works sho
wn as part of a rare exhibition being hosted by the National Gallery of Victoria in Melbourne.
The exhibition, Terracotta Warriors: Guardians of Immortality/Cai Guo-Qiang: The Transient Landscape, runs from May 24 to Oct 13.
It offers a new perspective on China’s traditional culture with more than 160 exhibits
on show, including the Qin emperor’s Terracotta Warriors, which were discovered in 1974 in China’s nor
thwestern Shaanxi province, and are widely described as one of the wonders of the world.
The exhibition features eight warriors and two life-size horses from the im
perial army, as well as two half-size replicas of bronze chariots, each drawn by four horses.
US states continue to value trade relations with China, despite ongoing tensions at the i