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On May 7, Li Yunze, director of the Financial Supervision Bureau, said at a press conference held by the State Council Information Office that the role of insurance funds as patient and long-term capital should be fully utilized, and efforts to enter the market to stabilize the market should be increased. Three measures will be introduced in the next step to support a stable and active capital market. First, the pilot scope of long-term investment of insurance funds will be expanded to inject more incremental funds into the market; second, the regulatory rules on solvency will be adjusted to further reduce the risk factor of stock investment by 10%, and insurance companies will be encouraged to increase their efforts to enter the market; third, a long-term assessment mechanism will be promoted to promote long-term money and long-term investment.On May 7, Li Yunze, director of the Financial Supervision Bureau, said at a press conference held by the State Council Information Office that stabilizing the property and stock markets is of great significance to boosting social expectations and unblocking the domestic demand cycle. In terms of stabilizing the property market, the Financial Supervision Bureau has approved white-list loans from commercial banks to 6.7 trillion yuan.Li Yunze, director of the State Financial Regulatory Administration, said at a press conference held by the State Council Information Office on May 7 that the long-term reserves for pension and health insurance exceed 10 trillion yuan.The New Taiwan dollar turned from appreciating by more than 1 cent to depreciating against the U.S. dollar in early trading, closing at 30.285.Li Yunze, director of the State Financial Regulatory Administration, introduced the latest progress in capital replenishment at a press conference held by the State Information Office on May 7: large commercial banks are accelerating implementation, large insurance groups have put it on the agenda, and small and medium-sized financial institutions are replenishing in an orderly manner through multiple channels.

Gold Price Prediction: The XAU/USD pair approaches $1,880 following a robust comeback amid weaker US yields

Alina Haynes

Feb 09, 2023 15:03

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During the Asian session, the gold price (XAU/USD) has renewed its daily high above $1,880.00. As market participants' risk appetite has increased, the gold price has climbed sharply higher after recovering from $1,872.00. The precious metal is anticipated to extend its uptrend over $1,880.00 with confidence, as lower US Treasury yields have mitigated the risk-averse inclination.

 

The yields on 10-year US Treasury bonds have decreased to approximately 3.61 percent. S&P500 futures have rebounded in the Asian session following a decline on Wednesday. The expectation that the Federal Reserve (Fed) will not be aggressive in the future in hiking interest rates supports the 500-US stock index.

 

In the meantime, the US Dollar Index (DXY) is battling to maintain above 103.00, despite the fact that the market has begun anticipating a Fed interest rate rise above 5%.

 

Jamie Dimon, chief executive officer of JPMorgan Chase & Co., advised against prematurely declaring victory against inflation, saying that the Federal Reserve could hike interest rates above 5% if higher prices become "sticky," as reported by Reuters. He stated that Fed Chair Jerome Powell must exceed 5% if inflation does not fall to between 3.5% and 4%.


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