As if rate cuts will help:
May 10 (Reuters) — China’s central bank cut its benchmark lending rate by 25 basis points to 5.1 percent on Sunday, its third reduction since November, as economic growth cools to levels not seen since the global financial crisis.
The People’s Bank of China (PBOC) also reduced one-year benchmark deposit rates by 25 basis points to 2.25 percent, it said in a statement on its website, adding that the reductions would be effective on May 11.
This is a ‘blow up’? All the way up to half a percent for a 10 year bund…
No one still quite knows what this is:
United States : Labor Market Conditions Index
The labor market is very soft based on the Fed’s labor market conditions index which is in negative ground for a second straight month, at minus 1.9 in April vs a downward revised minus 1.8 in March. These are the first negative readings in 3 years and follow last week’s April employment report which was no better than mixed. Based on this report, which takes a broad view of the labor market, the Fed will be in no hurry to raise rates. But two reports later this week have definitely been signaling strength in the labor market: JOLTS on Tuesday and jobless claims on Thursday.