Global stocks steady ahead of US-China summit: HumSub.TV
Global stocks steady ahead of US-China summit: HumSub.TV: Global markets largely tracked Wall Street with prices in New York edging up ahead of a US-China presidential summit expected to focus on trade and North Korea.
US stocks edged higher, recovering from a sell-off the previous day spurred by Federal Reserve meeting minutes suggesting a more aggressive monetary tightening policy than the market had anticipated. The firmer market in New York helped put a floor under earlier losses in Europe, as well as indications from European Central Bank that it has no plans to start rolling back its policy of easy money any time soon.
Investors are now eyeing a meeting between US President Donald Trump and his Chinese counterpart Xi Jinping. “Any sense that the summit is proceeding in a very amicable way could give way to a relief rally in the next few sessions,” said Briefing.com analyst Patrick O’Hare.
“Conversely, less amicable-sounding communications could spark the opposite.” In Europe, stock prices recovered from their earlier weakness, with stocks in London paring back their losses, while the blue-chip indices in Frankfurt and Paris ended the session in positive territory.
ECB chief Mario Draghi said the central bank will not raise interest rates before ending its mass bond-buying programme, quashing speculation that a mounting eurozone recovery would prompt him to change course. “We are not yet at a stage where inflation dynamics can be self-sustaining without monetary policy support,” Draghi told a Frankfurt conference.
Nevertheless, the mood could change quickly, analysts warned. Following the previous day’s sharp losses, “European markets may be exposed to further downside shocks as anxiety ahead of the Trump-Xi summit dents risk sentiment,” said FXTM analyst Lukman Otunuga.
Wednesday’s sell-off had been triggered by the US Federal Reserve minutes, which suggested that policymakers are considering unwinding the $4.5 trillion-worth of Treasury bills and other assets on its books. At the moment, the Fed reinvests principal payments it receives from its bond holdings back into the market — maintaining the size of its portfolio and the amount of money in the system.
Winding back on reinvestments would take money out of the financial system. The Fed’s reinvestment policy also helps suppress interest rates, so a reversal may signal more expensive future borrowing cots.
“This is huge news for traders in fixed interest and global markets more broadly. It means that a source of demand in US fixed interest markets is going to be reduced,” said Greg McKenna, chief market strategist at AxiTrader, in a note. “Maybe not today, maybe not tomorrow but taking the Fed out of the bond market will reverberate across global financial markets,” he said.
The minutes of the March meeting also showed policy board members saw “considerable uncertainty” about the effects Donald Trump’s pledged tax-cut and infrastructure spending stimulus would have on the US economy.
Global stocks steady ahead of US-China summit: HumSub.TV
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Introduction
HumSub TV is Pakistan’s leading forwarding-thinking, edutainment channel, aimed at promoting and upholding peace, interfaith harmony and social responsibility within Pakistan through informative and insightful programmes and documentaries; analytical interviews on issues pertaining to social, economic, legal and environmental set-up; dedicated shows to canvass and thereby promote the culture and heritage of Pakistan and in-depth coverage of national and international news.
HumSub TV is the first channel and thus a pioneer within its own right that mainly focuses on emphasising the “Rights” as well as the “Obligations” of the citizens in light of the Constitution of Pakistan, numerous International declarations signed by the Government and various laws that have been promulgated over the years but are not in the knowledge of the common citizen.
HumSub TV also aims to enter into bilateral agreements with other countries to promote not only their culture, heritage and tourism, but also their educational and medical facilities.
Following the successful launch of HumSub TV’s head office in Blue Area, Islamabad; the bureau office has been set up in Lahore.
Vision
To project positive image building of Pakistan and inculcate nationalism, as per the vision of the founder of the nation, Quaid-e-Azam Mohammad Ali Jinnah.
Mission
HumSub TV is resolute about the promotion of a pluralistic, inclusive and egalitarian society in Pakistan where all citizens are allowed to contribute to promote interfaith harmony, peace and collective wisdom in the social, political and economic development of Pakistan and to encourage critical and lateral thinking in the society. HumSub TV strives to make a positive contribution to this end.
HumSub TV’s Theme
HumSub TV, Pakistan’s first EDUTAINMENT Channel, has been set up for not only those audience residing in Pakistan or overseas but the international community on the whole. The vision of the channel is to project positive image building of Pakistan and inculcate nationalism as per the vision of the founder of the nation.
HumSub TV strives to make a positive contribution to this end by promoting pluralism, inclusiveness and egality in Pakistan and give voice to the suppressed. It endeavors to act as a positive catalyst for social change and Pakistani nationalism. It envisions providing a platform for airing critical and lateral thinking and collective wisdom by inviting positive minded intellectuals and opinion forming individuals for the promotion of interfaith harmony and peace in the social, political and economic development of Pakistan.
Whereas the channel airs upbeat edutainment programmes, it, nonetheless, has the primary objective of countering negative anti-Pakistan regional and international propaganda as well as advancing fundamental rights as encapsulated in the Constitution of Pakistan.
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