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The bid-to-cover ratio for the US 4-month Treasury bond auction ending June 3 was 3.15, compared to 3.01 previously.The US 4-month Treasury auction ended June 3 - the winning bid rate was 3.635%, compared to 3.63% previously.U.S. Treasury Secretary Bessen: We do intend to keep the fiscal deficit as a percentage of GDP at around 3 percent.Fitch Ratings monitoring data shows that the Italian residential mortgage market remains stable, with a continued ample supply of housing.June 3rd - Recently, several international financial institutions have released positive outlooks on the Chinese economy, increasing their investment in Chinese technology companies and accelerating their investment layout in China. MSCI, a well-known global index provider, recently officially included 19 A-share stocks in the MSCI China Index. This adjustment means that international funds will have easier access to invest in these Chinese companies. The newly included companies are mainly concentrated in optical communication, computing power, and high-end manufacturing, demonstrating foreign investments preference for Chinas "hard technology." Since the beginning of this year, foreign capital has steadily flowed in through various channels. As of now, various overseas investors hold more than 4 trillion yuan in A-share market capitalization, becoming important participants in Chinas capital market. While increasing their investment in China, several international investment banks, including Morgan Stanley and Deutsche Bank, have recently raised their 2026 GDP growth forecasts for China. Many institutions stated that Chinas core competitiveness in technological innovation globally is their biggest source of confidence in investing in China.

On indications of growing U.S. fuel demand, oil recoup some of its losses

Charlie Brooks

Aug 31, 2022 10:55

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Oil prices inched up on Wednesday after industry data revealed that U.S. gasoline inventories fell more than expected, recovering modestly after a 5% drop on Tuesday due to concerns that fuel demand may suffer as China tightens COVID-19 regulations and central banks hike interest rates.


Futures for U.S. West Texas Intermediate (WTI) crude oil rose 64 cents to $92.28 a barrel at 00:12 GMT, after plunging $5.37 per barrel the previous session owing to recession fears.


Brent crude futures increased 0.5%, or 48 cents, to $99.79 a barrel on Wednesday, erasing Tuesday's loss of $5.78 per barrel. Wednesday marks the conclusion of the contract for October. The contract for November climbed 0.6%, or 61 cents, to $98.45 per barrel.


For the week ending August 26, gasoline inventories declined by around 3.4 million barrels, while distillate inventories, which include diesel and jet fuel, decreased by about 1.7 million barrels.


The fall in gasoline supplies was nearly three times more than the average decrease of 1.2 million barrels forecast by eight Reuters analysts. They expected distillate stockpiles to decrease by 1 million barrels.


In contrast to analysts' predictions of a fall of around 1.5 million barrels, API data revealed an increase of approximately 593,00 barrels.


Concerns that several of China's largest cities, including Shenzhen and Dalian, are implementing lockdowns and business closures to combat COVID-19 at a time when the world's second-largest economy is already experiencing sluggish growth and limited price increases.


ANZ Research analysts noted in a note that mood is negatively impacted by the spread of COVID-19 in China.


Three sources told Reuters on Tuesday that the worst violence seen in Baghdad in years had no effect on Iraqi oil exports. Tuesday, violence subsided when the popular cleric Moqtada al-Sadr ordered his followers to halt their marches.

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