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URR - Veracity Of Chinese Data Questioned But Lifts Sentiment Nevertheless
Morgan Stanley ZC SP REDEEM 30/04/2020 USD 40
Overview: The veracity of Chinese data will be questioned by economists, but today's upbeat reports round out a picture that began with stronger exports and a surge in lending. Chinese officials, we argue, had a "Draghi moment" and decided to do "whatever it takes" to strengthen the economy in the face of US tariffs and during the 70th anniversary of the Revolution. The stronger Chinese data helped lift extend the MSCI Asia-Pacific Index for the fourth session. Europe's Dow Jones Stoxx 600 is struggling, and its five-day rally is at risk. Benchmark yields are rising.