Risk Sentiment Thaws on Chinese Recovery Efforts
Risk-sensitive assets are seeing a modest sentiment boost this morning as Chinese authorities move to stem the bleeding in stock markets, with top officials reportedly preparing to brief President Xi Jinping on their efforts. Onshore share indices moved higher overnight after the government imposed new restrictions on short-sellers, the state-owned Central Huijin Investment Ltd. said it would add more exchange-traded funds to its holdings, and the China Securities Regulatory Commission pledged “greater efforts” in encouraging buying from institutional investors. US equity futures are setting up for a stronger open, ten-year Treasury yields are inching lower after a circa-28 basis point...