Monetary easing cycle
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South Korea November exports beat forecasts, led by chips and autos
Yahoo Finance· 2025-12-01 00:47
SEOUL, Dec 1 (Reuters) - South Korea's exports rose in November for a sixth consecutive month, beating market expectations, as chip sales hit a record on strong technology demand while autos also jumped after a U.S. trade deal. Exports from Asia's fourth-largest economy, a bellwether for global trade, rose 8.4% from the same month a year earlier to $61.04 billion, trade data showed on Monday, stronger than a median 5.7% increase tipped in a Reuters poll of economists. That was also faster than a 3.5% ...
【笔记20251016— “老登股”,债市的老朋友】
债券笔记· 2025-10-16 11:31
Core Viewpoint - The article discusses the behavioral patterns of investors, highlighting a tendency to be overly tolerant of losses while being quick to take profits, leading to a cycle of small gains and significant losses [1]. Group 1: Market Overview - The funding environment is balanced and slightly loose, with the central bank conducting a 2,360 billion yuan reverse repurchase operation, resulting in a net withdrawal of 3,760 billion yuan [3]. - The interbank funding rates remain stable, with DR001 around 1.31% and DR007 around 1.42% [4]. - The stock market experienced a pullback after reaching near previous highs, influenced by ongoing US-China trade tensions and a slight decline in interest rates [6]. Group 2: Bond Market Dynamics - The bond market showed stability, with the 10-year government bond yield fluctuating around 1.7575%, reflecting a slight downward trend [6]. - The "old friends" in the bond market, referred to as "old Deng stocks," have been performing well, indicating a potential shift in investor sentiment towards bonds [7]. - The yield on long-term bonds has shown a stronger performance, with the 10-year bond yield decreasing to approximately 1.753% [6][7]. Group 3: Interest Rate Trends - The weighted rates for various repurchase agreements indicate a slight increase in R007 to 1.48%, while R001 remains stable at 1.35% [5]. - The interest rates for government bonds across different maturities show a mixed trend, with some rates experiencing slight declines [9].