China Fund News Taylor
Hello everyone, speculating in stocks is witnessing history every day. The US inflation data is off the charts. In June, the CPI increased by 9.1% year-on-year, the highest growth rate since 1981.
Inflation in the United States has exploded, reaching a new high in 40 years!
On the 13th local time, data released by the U.S. Department of Labor showed that the U.S. Consumer Price Index (CPI) increased by 1.3% month-on-month and 9.1% year-on-year in June. Data show that the year-on-year increase in U.S. CPI was higher than the previous market expectation of 8.8%, once again setting a new record in 40 years. That month, after excluding volatile food and energy prices, core CPI rose 0.7% month-on-month and 5.9% year-on-year.
Specifically, gasoline, housing and food prices increased the most in June. U.S. energy prices rose 7.5% month-on-month that month and surged 41.6% year-on-year. Among them, gasoline prices increased by 11.2% month-on-month and 59.9% year-on-year, which was the largest year-on-year increase since March 1980. The price of natural gas increased by 8.2% month-on-month and 38.4% year-on-year, reaching the largest increase since October 2005. Electricity prices also increased in June, up 1.7% month-on-month. Food prices increased by 1.0% month-on-month and 10.4% year-on-year.
The market generally believes that the latest CPI index will strengthen the expectation that the Federal Reserve will raise interest rates again by 375 basis points at the interest rate meeting on July 27. As the United States released its June CPI index, central banks in many countries around the world continued to raise interest rates to cope with the impact of continued inflation in their countries.
The CPI increased by 1.3% month-on-month, the highest since 2005, and increased by 9.1% year-on-year, the largest increase since the end of 1981.
Analysts pointed out that the strong CPI data shows that the Federal Reserve will further tighten monetary policy aggressively. The OIS corresponding to the Federal Reserve meeting shows that the market expects an interest rate hike of up to 80 basis points at the July meeting, while the expectation before the announcement of CPI was 75 basis points; it is expected that the next two meetings will raise interest rates by a further 145 basis points, and by the December meeting The rate hike was 198 basis points, compared with expectations at Tuesday's close of 184 basis points.
And the futures swap market shows that traders now believe that the Fed is certain to raise interest rates by at least 75 basis points at its July meeting, and that there is about a one-third chance of a full 100 basis point increase.
analyst Chris Anstey pointed out that this is a significant increase regardless of the month-on-month increase in overall data or core data. This solidifies expectations that the Federal Reserve will raise interest rates by 75 basis points at its July meeting.
The Fed Watch Tool shows that U.S. federal funds rate futures show an 80% chance that the Fed will raise interest rates by another 75 basis points in September.
In addition, after the US inflation data came out, the Bank of Canada announced that the benchmark interest rate would increase by 100 basis points to 2.5%. On July 13, local time, the Bank of Canada announced that it would raise the benchmark interest rate by 100 basis points to 2.5%. The Bank of Canada's current benchmark interest rate is the highest since 2008. The Bank of Canada raised interest rates sharply mainly in response to the current high inflation. The consumer price index for May released by Statistics Canada on June 22 soared to 7.7%, the highest level in the past 40 years.
Affected by the inflation data, US stocks plunged before the market opened, but after the opening opened lower and moved higher . On the news, US President Biden said that the June inflation data was "unacceptably high." But given the recent decline in gasoline prices, the CPI data is outdated.
The performance of Chinese concept stock is acceptable.
A50 had a near miss.
Anyway, bless Thursday’s A shares .
A bank president was defrauded of RMB 350 million for his daughter’s studies.
According to Procuratorate Daily , a major fraud case in Shandong was recently announced. Li, the president of a bank who was worried about his daughter’s studies, was defrauded 26 times, and the amount of money defrauded reached 3.5 million. billion. From March to August 2015, Li transferred tens of thousands of yuan to Zhao He multiple times. From September 2015 to September 2016, Zhao He made up multiple excuses such as "changing college entrance examination scores" and defrauded Li of more than 150 million yuan eight times. Subsequently, Zhao Mouhe pretended to be the anti-corruption director and repeatedly defrauded people, and successively defrauded more than 152 million yuan. As of the incident, nearly 320 million yuan in loans had not been recovered. Zhao was sentenced to life imprisonment and Li was sentenced to 7 years in prison.
"My uncle is the vice president of a university and is familiar with many leaders of the Ministry of Education. He has a wide range of paths and can arrange for his children to go to a good university..." Beguiled by Zhao Mouhe's unwise lie, he was worried about his daughter's studies. President Li was deceived 26 times and became a poor victim. He gradually transformed from a leading cadre into a "worm" who defrauded loans and illegally issued loans.
Recently, Li was sentenced to fixed-term imprisonment of seven years by the court for committing the crime of fraudulently obtaining loans and illegally granting loans. Prior to this, on March 11, the Shandong Provincial High Court made a final ruling on Zhao’s fraud case, rejecting Zhao’s appeal and upholding the original verdict. At this point, this huge fraud case that lasted for seven years and involved a total amount of 350 million yuan has finally come to an end. After investigation,
investigators found that Li took advantage of his position as bank president and took advantage of his business responsibilities such as loan placement and credit management to reach out to bank loans again and again.
In order to embezzle bank loans, Li entered into an offensive and defensive alliance with his brother-in-law Sun and Zhang, the general manager of a certain company, and instructed Sun and Zhang to create forged purchase and sale contracts and other false loan materials, and then issued loans in violation of regulations, forming an illegal structure. Covert and deceptive methods of transferring funds. As time went by, Li and three others came up with various loan schemes such as borrowing new ones to repay old ones, repaying the loans, and using other people's names, which resulted in repeated losses of bank loans without being noticed.
From June 2013 to February 2018, Li, together with Sun and Zhang, successively forged the production and operation statements, capital certificates, and loan information of 26 companies, and falsely used the names of others 5 times to carry out "name naming" Loan", defrauding bank loans of 350 million yuan. All illegal gains, except for personal squandering by Li and others, were defrauded by Zhao. As of the incident, nearly 320 million yuan in loans had not been recovered, causing particularly significant economic losses to the bank.
That’s it for tonight.
