DAX “..investors hope for yet more monetary accommodation in the face of a darker outlook for the global economy” Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

PBOC tweaks Loan Prime Rate
To help steer Chinese interest rates lower

CNBC reports that on Saturday the People’s Bank of China advised that it’ll improve the way it sets the LPR and, as from tomorrow will publish the rate monthly on the 20th. ‘’By reforming and improving the formation mechanism of LPR, we will be able to used market-based reform methods to help lower real lending rates. [It will] deepen market-based interest rate reform, improve the efficiency of interest rate transmission, and lower financing costs of the real economy’’.

In Sunday’s Argentine Clarin newspaper presidential opposition candidate Alberto Fernandez, who got almost twice as many votes in last week’s first round against current incumbent Mauricio Macri, said his country would struggle to pay back the $57 billion it had borrowed from the IMF. Granted by Christine Lagarde, and the biggest loan ever in the fund’s history, he added, ‘’I would say that there is only one incontrovertible reality and that is that Argentina in these conditions is not able to repay the debt it took on’’.

Financial Markets and Political Commentary
 

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