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Macquarie raised its target price for NIO Inc. (09866.HK) from HK$41 to HK$47 and its target price for NIO Inc. (NIO.N) from US$5.30 to US$6.10.The Hang Seng Index and the Hang Seng Tech Index both turned negative during the session.January 16th - According to sources familiar with the matter, Ford Motor Company is in talks with BYD regarding the supply of batteries for its overseas hybrid vehicles. Anonymous sources indicated that BYD is one of several battery suppliers Ford is in talks with. They stated that no deal has been reached yet. The negotiations reportedly aim to supply batteries for Fords expanding hybrid vehicle lineup to its international plants. Sources noted that hybrid vehicles produced at Fords overseas plants will be sold globally, including in the US market, but most hybrid vehicles sold in the US will still be produced at Fords North American plants. BYD has not yet responded. A Ford spokesperson stated that the company communicates with numerous companies on various matters and does not comment on rumors or speculation related to its business.Hong Kong-listed power equipment stocks rallied in early trading, with Dongfang Electric (01072.HK) rising over 8%, Harbin Electric (01133.HK) rising over 5%, and Shanghai Electric (02727.HK) and Xinyi Solar (00968.HK) following suit.On January 16th, Minister of Commerce Wang Wentao stated in a recent interview that this year, my country will focus on key and potential sectors such as transportation, domestic services, performances, and sports events to actively cultivate new growth points in service consumption. This year, my country will also focus on new sectors and offline entities, optimizing the implementation of the trade-in policy for consumer goods. Support policies will be improved, unreasonable restrictive measures will be eliminated, and new growth points in service consumption will be actively cultivated. In 2026, the trade-in program for consumer goods will provide stronger support for green and intelligent products, requiring home appliances to meet first-level energy efficiency or water efficiency standards for trade-ins, and subsidies for new purchases will be included for smartwatches, smart bracelets, and smart glasses. We will also actively support offline physical retail, encouraging offline stores to leverage their comparative advantages, create diversified consumption scenarios, enhance the consumer experience, and promote balanced development between online and offline channels.

The Devil Is In The Details: Gold Analysis - Federal Reserve Minutes

Larissa Barlow

Apr 07, 2022 10:33

Analyses of Federal Reserve Minutes 

While both the FOMC statement and Chairman Powell's press conference provide market participants with information about the FOMC's updated and revised monetary policy, it is the release of the minutes that provides investors with significantly greater clarity and understanding. The devil, as they say, is in the details.

 

The Federal Reserve issued the official minutes from its March FOMC meeting today, providing insight into the central bank's current plans to begin unwinding its balance sheet assets. Beginning in March 2020, the Federal Reserve will add around $4.6 trillion to its balance sheet by purchasing $120 billion monthly in mortgage-backed securities ($40 billion) and US Treasury securities ($80 billion), bringing their total to just over $9 trillion.

 

According to Federal Reserve Governor Lael Brainard, the Fed intends to employ a mix of interest rate rises and a quick run-off of the balance sheet to bring US monetary policy closer to neutral later this year.

 

However, the minutes released today imply that the Federal Reserve will unwind around $3 trillion over the next three years, reducing its $9 trillion balance sheet to $6 trillion. While the Fed appears to be indicating a quick runoff of its balance sheet, the reality is that the Federal Reserve's balance sheet will be nearly $2 trillion larger than it was prior to the epidemic.

 

"Participants continued their discussion on plans to reduce the size of the Federal Reserve's balance sheet in a manner consistent with the methodology outlined in the Committee's Principles for Reducing the Size of the Federal Reserve's Balance Sheet, announced following its January meeting."

 

Additionally, the minutes stated, "While no decision was made regarding the Committee's plan to reduce the Federal Reserve's balance sheet at this meeting, participants agreed that significant progress had been made on the plan and that the Committee was well positioned to begin the process of reducing the balance sheet's size as soon as after the conclusion of its upcoming May meeting."


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