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May 18th - The sharp rise in US Treasury yields this month may have neared its peak. JPMorgan analysts stated, "We no longer believe the risks are tilted towards higher yields." They added, "The policy outcome priced into the money market is more hawkish than our baseline scenario, and valuations have already corrected." According to CME data, the market largely expects the Federal Reserve to keep interest rates unchanged, but the likelihood of a rate hike is also increasing. Long-term bonds appear undervalued. JPMorgan stated, "We believe this bearish repricing provides an opportunity to increase duration."On May 18th, the 2026 International Hydrogen Energy Development Forum was held in Hong Kong, aiming to promote global cooperation and innovation in the hydrogen energy field. The forum focused on five main topics: establishing a hydrogen energy safety regulatory framework, establishing a global certification system for green and low-carbon hydrogen energy, unlocking the application potential of liquid hydrogen, building high-quality infrastructure for hydrogen energy development, and promoting scientific education on hydrogen energy utilization. It provided a platform for hydrogen energy industry experts and practitioners to exchange the latest technological advancements, engineering solutions, and future development trends. Acting Secretary for the Environment and Ecology of the Hong Kong SAR Government, Ms. Wong Suk-han, stated that this hydrogen energy exchange activity will build a platform for sharing industry experience and discussing technological innovations. Hong Kong strives to halve its total carbon emissions from 2005 levels by 2035 and move towards achieving carbon neutrality by 2050.The Ukrainian Foreign Ministry condemned Belarus for conducting nuclear weapons exercises. Ukraine called on its allies to increase sanctions against Moscow and Minsk.The Iraqi Foreign Ministry stated that Iraq is investigating the launch of a drone from its territory towards Saudi Arabia. Iraq has requested that Saudi authorities share information related to the attack. Our air defense systems did not detect the drone launch previously.Turkish President Erdogan: Economic management is taking measures to minimize the impact of regional tensions on the economy and will continue to do so.

S&P 500 Struggling to Find Direction Ahead of Powell’s Speech on Wednesday

Steven Zhao

Nov 30, 2022 16:12

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Following encouraging developments in China overnight and U.S. housing statistics that revealed a further drop in home values, the major US stock indices are anticipated to open Tuesday with mixed results.


Investors are putting their faith in China's early exit from COVID-related curbs.


Tuesday's early loss in the broad S&P 500 and NASDAQ Indexes was reversed after China reported a drop in new COVID-19 infections for the period ending November 28. According to CNBC calculations using Wind Information data, the nation reported that local illnesses, the majority of which lacked symptoms, totaled 38,421, down from a record high of 40,052 reported on Sunday.


The data showed that on November 19, the daily case count decreased from the day before.


On Monday, there was also no sign of any fresh demonstrations. Students and other groups protested the strict zero-COVID policy in China over the weekend by holding rallies in front of the public.


As a result of this announcement, markets rose overnight on expectations that China might lift its COVID restrictions sooner than expected.

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