The New York Stock Exchange. Picture: REUTERS/BRENDAN MCDERMID
But recent comments from policy makers have helped stem the tide as top Fed officials this week began warning that the trade war may force them to respond, prompting investors to price possible interest rate cuts. The optimism rolled over into markets on Wednesday, with the MSCI all-country world index up 0.4% after the start of European trading, adding further to a 1.4% gain on Tuesday.
China is willing to meet reasonable demand for rare-earths from other countries, but it would be unacceptable that countries using Chinese rare-earths to manufacture products would turn around and suppress China, its commerce ministry said last week. China’s dominance as a supplier of rare-earths could be a vital bargaining chip in the trade war with the US.
In bonds, Germany’s 10-year bond yield reached a record low and Italian debt held on to this week’s gains as investors ramped up their bets on a generous loan package for banks in the eurozone as well as a US rate cut.
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