Loading ...I am surprised they were honest…well that removes one hope for the u.s. stock mkt bulls…next hope is the FED issues some supportive statement but Powell already did that during Fridays session…the only thing they could do is an emergency 50bps rate cut and that could backfire…maybe even cause gold to be up $100 as zero bound rates start to be discussed as a possibility…already 4 rate cuts have been priced into Fed funds rate futures..
The idea that investors are selling G&S shares to “get liquid” was nothing more than Wall St. contrived “dialogue” to serve as an alibi or cover for supressing gold during a time of crisis…THERE! YES, I’VE SAID IT…
POLL-China’s Feb factory PMI seen at lowest since 2009 as coronavirus slams production
BEIJING, Feb 28 (Reuters) – Activity in China’s vast manufacturing sector likely shrank at the fastest pace since the global financial crisis in February as the coronavirus suspended large movements of goods and people in most parts of the country.
China’s official manufacturing Purchasing Manager’s Index (PMI) is forecast to fall sharply to 46 – a level not seen since January 2009 – from 50 a month earlier, according to the median forecast of 25 economists polled by Reuters. The neutral 50-point mark separates monthly growth from contraction.
The gloomy readings highlight the colossal economic damage to the world’s second-largest economy from the coronavirus that has killed almost 3,000 people in mainland China and forced draconian travel restrictions and quarantine rules.
Nomura expects first-quarter growth to be at 2.0% year-on-year while Capital Economics estimates China’s economy would contract outright in year-on-year terms this quarter, for the first time since at least the 1990s.