“If capital were to leave emerging economies, especially those that peg their currencies against the dollar, the natural thing to do is to sell Treasuries”, said Gene Tannuzzo, portfolio manager at Columbia Threadneedle Investments in Minneapolis.
North American stock markets seesawed once again on Wednesday as investors couldn’t decide whether to be encouraged by China’s recent move to stimulate its economy or anxious that Beijing thinks it needs stimulus in the first place.
Keith Berlin, director of global fixed income and credit at Fund Evaluation Group in Cincinnati, Ohio, said “markets have awakened to the realization that China’s growth story is not what it once was”.
Most other Asian currencies managed to rebound, and stock and commodity markets picked up. But the International Monetary Fund has certainly noticed, suggesting that “a more market-determined exchange rate would facilitate SDR operations, in case the renminbi were included...
The Perseids are active from July 13 to Aug. 26, according to the American Meteor Society, a nonprofit scientific organization that supports the research of astronomers, but the meteor shower peaks between Aug. 12-13.
The minutes to the July 28-29 meeting of the policy-setting Federal Open Market Committee, released last week, showed both a caution over still-low inflation and a concern over China’s economic malaise.
The New York Stock Exchange invoked a rule saying market makers don’t have to disseminate price indications before the opening bell in an effort to make it easier and faster to open stocks on a volatile trading day.