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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 17

⚡China mulls efforts to maintain supply and price of iron ore: NDRC
#China #IronOre

⚡#China state planner says has carried out field research to conduct in-depth research on #IronOre supply and price stability.

China state planner NDRC: Visit Qingdao Port and Tangshan Port to conduct research, learn about iron ore inventories and stockpiling charges at ports, evaluate situation of iron ore market and price, and study work of ensuring supply and stable price of iron ore.
#China #IronOre

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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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