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@Sino_Market

Mar 19

US FED SAYS FED AND CENTRAL BANKS OF ENGLAND, CANADA, JAPAN, ECB AND SWITZERLAND ANNOUNCE COORDINATED ACTION TO ENHANCE THE PROVISION OF LIQUIDITY VIA THE STANDING U.S. DOLLAR LIQUIDITY SWAP LINES.

US FED: DAILY OPERATIONS WILL COMMENCE ON MONDAY AND WILL CONTINUE AT LEAST THROUGH THE END OF APRIL.

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@Sino_Market

Mar 19

SWISS FINMA APPROVES MERGER OF UBS, CREDIT SUISSE.
#CreditSuisse #UBS #BankingCrisis

FINMA: GOV'T SUPPORT WILL TRIGGER A COMPLETE WRITE-DOWN OF THE NOMINAL VALUE OF ALL AT1 SHARES OF CREDIT SUISSE IN THE AMOUNT OF AROUND CHF 16 BILLION. ON THIS BASIS, IT WILL BE POSSIBLE TO CONTINUE ALL THE BUSINESS ACTIVITIES OF BOTH BANKS WITH NO RESTRICTIONS OR INTERRUPTIONS.

FINMA: SNB MOVE WILL PROVIDE SUFFICIENT LIQUIDITY TO CARRY OUT THE TAKEOVER. WILL ALSO COORDINATE WITH NATIONAL AND INTERNATIONAL AUTHORITIES , NAMELY THE US FEDERAL RESERVE AND THE BRITISH PRUDENTIAL REGULATORY AUTHORITY.
#CreditSuisse #UBS #BankingCrisis

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@Sino_Market

Mar 19

SNB: UBS TODAY ANNOUNCED THE TAKEOVER OF CREDIT SUISSE. BOTH BANKS HAVE UNRESTRICTED ACCESS TO THE SNB’S EXISTING FACILITIES.
#CreditSuisse #UBS #BankingCrisis

SNB: THIS TAKEOVER WAS MADE POSSIBLE WITH THE SUPPORT OF THE SWISS FEDERAL GOVERNMENT, THE SWISS FINANCIAL MARKET SUPERVISORY AUTHORITY FINMA AND THE SWISS NATIONAL BANK.
#CreditSuisse #UBS #BankingCrisis

SNB: SNB CAN GRANT CREDIT SUISSE A LIQUIDITY ASSISTANCE LOAN OF UP TO CHF 100 BILLION BACKED BY A FEDERAL DEFAULT GUARANTEE. SUBSTANTIAL PROVISION OF LIQUIDITY WILL ENSURE THAT BOTH BANKS HAVE ACCESS TO THE NECESSARY LIQUIDITY.
#CreditSuisse #UBS #BankingCrisis

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@Sino_Market

Mar 17

JUST IN:
#CHINA CENTRAL BANK TO CUT RRR BY 25 BPS FROM MARCH 27.
$CNH $CNY

#CHINA CENTRAL BANK PBOC REITERATES PRUDENT, FORCEFUL MONETARY POLICY.
$CNH $CNY

#China central bank: Will keep total amount of money and credit at an appropriate and steady pace, and maintain reasonable and sufficient liquidity.
$CNH $CNY

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@Sino_Market

Mar 5

🇨🇳Key takeaways of 2023 #China Government Work Report:
🔸GDP growth target at around 5%
🔸CPI growth target at about 3% unchanged
🔸Budget deficit at 3% of GDP vs 2.8% 2022
🔸Add 12 million urban jobs in 2023 vs 11 mln 2022.
🔸Plans 3.8 tln yuan special gov bond sales vs 3.65
1/n

🇨🇳Key takeaways of 2023 #China Government Work Report:
🔸Focus on expanding domestic demand, consumption
🔸More proactive fiscal policy
🔸Money supply growth to match nomical GDP growth
🔸Keep yuan exchange basically stableshore
🔸Shore up B/S of property companies
2/n

🇨🇳Key takeaways of 2023 #China Government Work Report:
🔸Improve preferential tax & fee policies
🔸Tech policies will focus on self-reliance
🔸Increase grain output by 50 million tons
🔸Push Covid-19 vaccine & drug upgrade
🔸Support elderly care & fertility
3/n

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@Sino_Market

Mar 3

JUST IN:
Saudi Arabia, UAE Clash Over Oil, Yemen Amid Growing Rift: WSJ Sources
#OOTT

Saudi Crown Prince Mohammed bin Salman Skipped Abu Dhabi Summit in January to Snub Emiratis: WSJ Sources
#OOTT #OPEC

Now, said Emirati officials say, the U.A.E. is having an internal debate about leaving OPEC, a decision that would shake the cartel and undermine its power in global oil markets.
#OOTT #OPEC #Saudi #UAE
wsj.com/articles/saudi…

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