Hot spot information

World Health Organization: 20% target for COVID-19 vaccination rate in 2021

World Health Organization (WHO) 's chief scientist pointed out a few days ago that if the final stage of novel coronavirus vaccine is successfully developed, about 70% of the world's population should be vaccinated to ensure the end of the epidemic. World Health Organization (WHO) related sources pointed out that although the effect of the future vaccine remains to be seen, the above coverage is still the most ideal. The target for the coverage rate of COVID-19 vaccine in 2021 is 20%.

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The Trump administration may withdraw from stimulus negotiations, sending US stocks down 300 points

Despite the recent good news about the vaccine, risks remain as the epidemic continues, the Fed chairman said on Thursday, re-emphasizing the importance of fiscal stimulus measures. Even after the unemployment rate falls further, the labour market still needs help. The Trump administration is understood to be pulling out of negotiations on stimulus measures, and the White House says it will hand over the stimulus package to Congress.

Powell, chairman of the Federal Reserve, expressed caution about the vaccine, and although the U. S. economy recovered faster than expected, it was slow and uneven. After Powell's speech, the decline in US stocks widened. By the end of the day, the three major indexes of US stocks were down, with the Dow down more than 300 points.

Global financial giants gather at a high-level forum to discuss monetary policy and negative interest rates

Since the beginning of this year, in response to the impact of the COVID-19 epidemic on the economy, major central banks around the world have cut interest rates or expanded asset purchases. While these measures have contributed to stabilizing the economy, low interest rates and loose financial conditions may encourage excessive risk accumulation, leaving the financial system fragile in the long run.

At a high-level forum on China's development on Thursday night, the head of the International Monetary Fund said that the crisis caused by the current epidemic is far from over and that monetary policy needs to remain loose to support economic recovery. However, the next easing policy should be more targeted, fiscal policy should also make efforts to tie in with monetary policy, and special liquidity support should be withdrawn when financial conditions improve.

The world's largest free trade agreement will be signed at the weekend! China and Japan took the lead for eight years.

Fifteen Asia-Pacific countries, including China, plan to reach the world's largest free trade agreement this weekend, in a decade-long effort to strengthen China's economic integration with the Asia-Pacific region, Bloomberg reported. The Asia-Pacific region accounts for nearly 1/3 of the world's GDP.

The Regional Comprehensive Economic Partnership (RCEP), which includes China, Japan, Australia and New Zealand, aims to reduce tariffs, strengthen supply chains with common rules of origin, and codify new e-commerce rules. Its passage may be disadvantageous to some American companies and other multinational corporations outside the trade area.

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Daxing looks at the market

HSBC Holdings PLC: negative interest rates may have a negative impact on the resilience of the global financial system

People related to the HSBC Group said that monetary policy should be accurate drip irrigation, while considering the issue of policy exit. Global government support for companies generally has some effect, but this support cannot last indefinitely, and some companies may fall back into trouble once the policy is withdrawn. According to some past experience, non-performing loans may be a drag on economic development after economic recovery, weakening the ability of banks to provide financial support to the real economy. After this crisis, the financial industry is likely to face a surge in non-performing loans in the coming years.

He also pointed out that at the policy level, the implementation of negative interest rates has considerable uncertainty, which may support both loan demand and loan supply. In practical terms, negative interest rates are not very feasible because it is difficult for many people to understand negative interest rates, which may have a negative impact on the resilience of the global financial system.

Credit Suisse: looking forward to the next 6 to 12 months, global funds will continue to flow into the Chinese stock market

In fact, there has been a shift of money from Europe and the US to emerging markets such as China in the last six to 12 months, especially in recent weeks. In addition, the magnitude of quantitative easing in the major developed economies is increasing, and some of the funds have been diverted to emerging markets such as China from various perspectives such as future returns.

UBS strategists say a new outbreak in Europe and the US has cast a shadow over expectations of a global economic recovery after global stocks were sold off at one point. If more countries are forced to impose some travel restrictions or close cities, the de-risk trend of global stock markets is likely to be further deepened. Given China's success in controlling the epidemic and the continued economic recovery, the A-share market is expected to outperform the rest of the world.

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Views on the allocation of investment institutions

Franklin Templeton: overall stock valuations in emerging economies in Asia have risen

Franklin Templeton, director of investment stocks, said that at present, some Asian emerging economies have been relatively successful in controlling the epidemic, coupled with factors such as the development of Internet, technology, consumer and other new economy enterprises during the epidemic. Overall valuations of stocks in these markets have risen. Stock markets in some Asian emerging economies are likely to expand their current gains for the rest of the year and 2021.

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American Bridge Water: China's capital market is very attractive at present.

'The original dollar-centered system makes our entire financial system more and more dangerous, and we need to promote the renminbi as a reserve currency, 'said Dalio, chairman of Bridgewater Investment Co., Ltd., at the China Development High-level Forum. At present, there are not many people to hold Chinese assets in the world capital market, but China has now become a very attractive capital market, and a series of policies of the Chinese government are very attractive. and the world doesn't pay enough attention to it. In the future, the world will pay more and more attention to China and the future development of China's RMB.

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