Shares Sobered by Fed Warning, China Acts on PropertySYDNEY/LONDON—Share markets continued last week’s rally in more modest fashion on Monday after a top U.S. central banker warned investors against getting carried away over one inflation number, while Chinese stocks gained on aid for the country’s property sector.
A modest miss on U.S. inflation was enough to see two-year Treasury yields dive 33 basis points for the week and the dollar loses almost 4 percent—the fourth biggest weekly decline since the era of free-floating exchange rates began over 50 years ago.
However, the resulting easing in U.S. financial conditions was not entirely welcomed by the Federal Reserve, with Governor Christopher Waller saying on Sunday it would take a string of soft reports for the bank to take its foot off the brakes....
Source: Shares Sobered by Fed Warning, China Acts on Property (https://www.theepochtimes.com/shares-sobered-by-fed-warning-china-acts-on-property_4861486.html)