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June 26 - Default protection costs for euro-denominated high-yield corporate bonds rose as concerns about the technology sector weakened market sentiment. The market is worried about high memory chip prices and their impact on the profitability of technology companies. According to S&P Global Market Intelligence data, the iTraxx Europe Crossover Index for euro high-yield credit default swaps rose 1 basis point to 248 basis points.On June 26th, according to the National Enterprise Credit Information Publicity System website, Shenzhen Jinyuchengda Industrial Investment Co., Ltd. was listed as an abnormal business entity by the Luohu Regulatory Bureau of the Shenzhen Municipal Market Supervision Administration on June 18th, 2026, because it could not be contacted at its registered address or business premises. It is understood that the company has issued a dissolution notice, and the company resolved to dissolve itself at a shareholders meeting held on July 2nd, 2025. According to Tianyancha App, the company was established in July 2018, with Zhu Liren as its legal representative and a registered capital of approximately 2.49 billion RMB. Its business scope includes investment in industrial enterprises, information consulting, property management, and domestic trade, and it is wholly owned by Evergrande Real Estate Group (Shenzhen) Co., Ltd.On June 26th, it was announced at a press conference held by the State Administration for Market Regulation that the national standards series "Interconnection of Intelligent Agents in Artificial Intelligence" have been officially released. The seven national standards in this series comprehensively cover core aspects such as overall architecture, identity codes, identity management, intelligent agent description, intelligent agent discovery, intelligent agent interaction, and intelligent agent tool invocation. They systematically establish a closed-loop standard specification system covering "identity identification—capability description—supply and demand discovery—collaborative interaction—tool invocation," effectively filling the standard gaps in this field. Through the unified architecture and interaction rules of this series of standards, enterprises can reuse standard components, reduce customized development, and shorten product launch cycles; simultaneously, a unified identity authentication and full-process traceability mechanism is established, solidifying the institutional foundation for cross-domain trusted and secure interaction.On June 26th, Pop Mart (09992.HK) officially launched its flagship IP LABUBU "Retro Barber Shop" blind box series online last night (June 25th). As a former top-tier trendy toy, the LABUBU series is known for its strong market performance, selling out instantly upon release and commanding significant premiums on the secondary market. However, this new release has defied expectations, with many regular models quickly falling below the official retail price after launch, a rare phenomenon of price drops.The German DAX index fell by 1.00% on the day.

As the BoJ ponders a YCC expansion, EUR/JPY continues to decline, falling below 142.60

Alina Haynes

Apr 06, 2023 11:52

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After plunging below 142.60 during the Asian trading session, the EUR/JPY pair's three-day losing trend was extended. Renewed rumors of an expansion of the Bank of Japan's (BoJ) Yield Curve Control (YCC) are exerting immense pressure on the cross.

 

The Japanese economy is experiencing gradual wage growth, and inflation is expected to respond to recent increases in crude oil prices. Analysts at Wells Fargo believe the BoJ will take advantage of a tactical opportunity to further modify its policy settings in the fourth quarter of 2022, and are inclined toward a meeting in October. They added that this timeframe is optimal for a smooth policy adjustment, as monetary easing from the Federal Reserve (Fed) and other major central banks should alleviate yield pressure.

 

In particular, the Bank of Japan (BoJ) will raise the target yield for 10-year Japanese government bonds (JGBs) from 0% to 0.25% and increase the tolerance interval surrounding this target to +/- 75 basis points.

 

Accelerating PMIs in the Eurozone provide support for the European Central Bank's sustained rate hikes. (ECB). S&P Global reported a Composite PMI of 53.7 on Wednesday, which was higher than the previous release of 52.0 but below expectations of 54.1, the highest level in the past ten months.

 

According to Reuters, S&P Global issued the following statement: "Manufacturing production increased slightly, but the service sector had the greatest impact on March's accelerated growth."

 

Wednesday, ECB policymaker Boris Vuji stated regarding interest rate forecasts, "The majority of the rate-hiking cycle has passed." He added, "We may require additional rate increases to address core inflation."

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