Will this week be Chinese President Xi Jinping's equivalent of Mario Draghi's famous "whatever it takes" moment?
Couple that with a U.S. economy still seemingly on track for a 'soft landing' and a central bank determined to get ahead of the curve to deliver that outcome, the global picture is a lot brighter too. Hong Kong's benchmark Hang Seng index's 4% rally on Thursday brings its weekly gains to 9%, the most in 13 years. An index of mainland Chinese property stocks, meanwhile, leapt 16%.
Although Draghi's "whatever it takes" commitment in 2012 to save the euro greatly reduced the risk of financial and political catastrophe - bond yield spreads have been lower ever since - the actual policies behind it didn't fundamentally solve the euro zone's severe economic problems.Similarly, Beijing's measures this week won't fully solve China's property bust, banish the threat of deflation, or address its long-term demographic challenges.
It may have been chaotic, but 10-man Tottenham Hotspur made a winning return to European football and Thursday nights could be a lot of fun if they carry on like this.At least six school districts plus a private school in Central and Eastern Kentucky have either moved to remote learning or canceled school on Friday.Costco reported mixed fiscal fourth quarter results after the market close on Thursday. The wholesale retailer's earnings topped estimates, but revenue of $79.
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