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On March 31, the Peoples Bank of China released its report on the operation of the financial market in February 2026. In February 2026, net financing of government bonds was 1,401.38 billion yuan, a decrease of 292.53 billion yuan year-on-year; net financing of corporate bonds was 152.18 billion yuan, a decrease of 18.02 billion yuan year-on-year. At the end of February 2026, the outstanding balance of bonds in custody was 198.9 trillion yuan. In February 2026, the turnover of the spot bond market was 23.3 trillion yuan, a decrease of 21.3% year-on-year; the turnover rate of spot bonds in the interbank bond market was 11.6%, a decrease of 7 percentage points month-on-month; the bid-ask spread for active 10-year Treasury bonds was 0.83 basis points. At the end of February 2026, the yield on 10-year Treasury bonds was 1.78%; the yield spread between 10-year and 1-year Treasury bonds was 46 basis points, basically unchanged month-on-month; the yield spread between 3-year AAA-rated medium-term notes and 3-year Treasury bonds was 44 basis points, basically unchanged month-on-month.Citigroup lowered its price target for Micron Technology (MU.O) from $510 to $425.Kremlin: No “clear” Easter ceasefire proposal has been seen from Kyiv.Russian presidential aide Patrushev: Ukraine attacked Russian civilian infrastructure with the involvement of Western intelligence agencies.On March 31, ZhengTong Auto (01728.HK) announced that trading in its shares on the Hong Kong Stock Exchange was suspended at 9:00 a.m. on July 2, 2025, and will remain suspended until further notice. The company is actively working with the offeror and financial advisor to restore the minimum public float, including placing or selling shares to selected independent third parties and identifying opportunities for new share placements, but as of the date of this announcement, no legally binding commitments have been reached. Given that the companys full-year results will not be published until March 30, 2026, some potential investors prefer to make investment decisions after the results are announced, and related discussions will require time to proceed. The company will issue further announcements regarding the progress of restoring the public float in due course.

Forecast for the price of gold: XAU/USD eases below the $1,804 barrier as Fed hawks back off due to weaker US inflation

Alina Haynes

Aug 11, 2022 11:58

 截屏2022-08-10 上午11.45.08_1024x576.png

 

US inflation-driven gains in the price of gold (XAU/USD) are fading as the metal declines to $1,790 on Thursday during the opening Tokyo session. The recent decline in the price of precious metals may be related to conflicting worries about the US Federal Reserve's (Fed) upcoming actions as well as Sino-American friction.

 

On Wednesday, the US Consumer Price Index (CPI) fell to 8.5% YoY in July, below the 8.7% consensus and the 9.1% reading from June. According to Reuters, US President Joe Biden stated on Wednesday that there are some indications that inflation may be decreasing after the US released its inflation data. In the coming months, there may be more challenges for us to overcome, Biden continued. US President Biden continues, "We still have work to do, but we're on track."

 

Following the CPI report on Wednesday, traders of futures linked to the Fed's benchmark interest rate reduced their bets on a third consecutive 75-basis-point raise at its policy meeting on September 20-21 and now see a half-point increase as the most likely scenario, according to Reuters.

 

Neel Kashkari, president of the Minneapolis Fed, recently stated that the Fed is "far, far away from declaring success" on inflation. Additionally, the decision-maker stated that he hasn't "seen anything that changes" the need for the Fed to raise its policy rate to 3.9% by year's end and to 4.4% by the end of 2023. Charles Evans, president of the Chicago Fed, said in another place that a recession would likely require unfavorable circumstances to occur. Also labeling inflation "unacceptably" high, Fed's Evans

 

Additionally, according to sources cited by Reuters, US President Biden is reconsidering his China tariff policy in light of Taiwan's response, which put the XAU/USD bulls on the defensive.

 

S&P 500 Futures print modest gains near 4,220 by press time against this backdrop after Wall Street rose and US Treasury yields were largely unchanged the day prior.

 

Moving on, the monthly Producer Price Index (PPI) for July and the weekly US Jobless Claims numbers may amuse gold traders. However, in light of recent risk-negative headlines, special focus should be placed on the qualitative variables.

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