The markets are having a rough adjustment to the return of the Chinese markets are the week-long holiday. The cut in the required reserves failed to lift investor sentiment. The Shanghai and Shenzhen Composites fell almost 4%, and the yuan slid nearly 0.8%. It is an unusually large decline for the closely managed currency.
Mario Draghi
Fed Set to Raise Rates Again, other Central Banks Sound Ready to End the Easy Money, too
Fed Set to Raise Rates Again
✅ Draghi’s comments come ahead of the Fed’s two-day meeting and anticipated rate hike Wednesday, but they also come as the Bank of Japan sounds slightly less dovish and other central banks raise their interest rates.
Draghi Ends ECB Bond-Buying Era Saying Economy Can Beat Risk
Gold Silver Reports (GSR) – Draghi Ends ECB Bond-Buying Era Saying Economy Can Beat Risk — Mario Draghi said the euro-area economy is strong enough to overcome increased risk, justifying the European Central Bank’s decision to halt bond purchases and close an extraordinary chapter in the decade-long struggle with financial crises and recession. The euro fell after the central bank also pledged to keep interest rates unchanged at current record lows at least through the summer of 2019, a longer timeframe than investors had priced in. Policy makers will phase out bond purchases by the end of this year in what Draghi described as a unanimous decision.
Draghi Insists Outlook Is Solid as ECB Skirts QE Debate Again
Gold Silver Reports (GSR) – Draghi Insists Outlook Is Solid as ECB Skirts QE Debate Again — The Governing Council spent its two-day meeting assessing a raft of weaker economic data, the ECB president said at a news conference in Frankfurt. While acknowledging that momentum softened at the start of the year, he reaffirmed his confidence in the durability of the euro-area expansion.