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China Urges Banks to Boost Stock Investments to Support Market

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(Bloomberg) -- China urged the country’s pension fund, some large banks and insurers to increase stock investments, in the latest effort to bolster its fragile markets.Most Read from BloombergNYC’s Most Exciting New Fine Dining Restaurant Is in a Subway StationNasdaq 100 Drops 2% as Yields Rise Before Powell: Markets WrapMore People Call in Sick on August 24 Than Any Other DayWagner Chief Prigozhin Listed Aboard Crashed Jet, Reports SayBRICS Bloc Grows Heft With Saudi Arabia and Other Mideast Po

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Highly indebted Canadians hoping for relief from a rapid rise in mortgage rates are in for some disappointment, as recent moves in the bond market point to interest rates staying at elevated levels for longer than previously expected due to stubborn inflation. The yield on Canada's 5-year bond climbed on Tuesday to a 16-year high of 4.17%, up from 2.66% in March, as investors gave up on the notion that the Bank of Canada and other major central banks will pivot quickly to rate cuts.

 

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China Urges Banks to Boost Stock Investments to Support MarketChinese authorities ramped up efforts to bolster the nation’s fragile financial markets, urging the country’s pension fund and some large-scale banks and insurers to increase stock investments.
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