News
It was reported that the leaders of Germany, Italy, France, Finland and Ukraine and the President of the EU Commission had a joint phone call with US President Donald Trump.
New York Fed President John Williams and Atlanta Fed President Raphael Bostic think that the interest rate cut can wait until September.
The US lost the highest rating from all three major rating agencies after Moody’s downgraded its credit rating due to its high debt level and widening budget deficit, and it is predicted that conditions in the bond market may worsen with the downgrade.
Russian President Vladimir Putin stated that he had a constructive phone call with US President Donald Trump and said, “The resumption of contacts in Istanbul shows that the parties are generally on the right track.”
Following the trade tensions with the US, the European Union (EU) Commission lowered the Eurozone’s economic growth expectation for this year from 1.3 percent to 0.9 percent and for next year from 1.6 percent to 1.4 percent.
Oil stabilized after US President Donald Trump withdrew from the talks.
China cuts benchmark lending rates for the first time in 7 months.
Nomura said China will have a hard time meeting its growth target of “around 5 percent” unless it announces a major stimulus package.
Electric vehicle battery giant CATL’s shares opened up 12.5 percent after raising $4.6 billion in a Hong Kong IPO.
Losses increased after the limits that would have reduced tax bracket deductions were not increased over the years.
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