Umno sec-gen says KKB poll shows Malays now basing vote on performance and stability, but party will still push Bumi agenda
There are also reports Chinese authorities are laying the groundwork for a sale of 1 trillion yuan in longer-dated bonds to help fund stimulus spending at home. A low number would likely boost bets the Federal Reserve could ease as soon as July, which is currently priced at only a 25 per cent chance. Equally, a high inflation print could push a rate cut out past September and challenge pricing for 42 basis points of easing this year.
With 80 per cent of the S&P 500 having reported results, companies are on track to have increased earnings by 7.8 per cent, well ahead of the April expectation of 5.1 per cent. The dollar was holding firm at 155.92 yen on Monday, while the euro was flat at US$1.0770 having faced resistance around US$1.0791 last week.