Ren Zeping stock market volatility return

Ren Zeping: the stock market rangebound regression performance   review: recent macroeconomic research, people generally believe that the economy is poor, such as credit cooperatives finance, private investment demand side data fell sharply. However, investors are generally reflected from the micro enterprise profit, prices of industrial products such as the production price data has continued to improve. This may be distorted with the official data on the demand side and the real situation is not so bad, supply side contraction than expected, which is consistent with our 2014 new 5% better than the old 8%, in 2015, the economic type of judgment. Taking into account the central emphasis to the production capacity, the end of PPI may be positive, expected industrial enterprises profit recovery process is expected to continue until the end of the year. Abstract: the international economy: Fed rate hike is expected to heat up. Yellen speech that the United States in recent months to raise interest rates to increase the economic reasons. Fed vice chairman Fisher said after the speech in the United States, the U.S. economy is good, September may raise interest rates in. Futures market interest rate hike in 9, December rose to $38%, 62.3%. Two official statement, the dollar rose, U.S. stocks, U.S. debt, gold, crude oil fell. Domestic economy: corporate earnings improvement, two or three line real estate sales rebound. 1-7 months, above scale industrial enterprises realized a total profit of 6.9% year-on-year growth, the growth rate of more than 1-6 months to speed up 0.7 percentage points; the month of July year-on-year growth of 11%, the growth rate in June, up 5.9 percentage points, for each year since second month highs, benefit from a rebound in prices, sales stabilized, cost down. The housing market began to differentiate, sales and purchase of land fell, two or three lines of hot, which may be related to the spillover effects of high prices in the core city. With the new round of urban policy regulation policy, this differentiation may increase. Strong car consumption. August six high power generation coal consumption, high temperature weather continued. To benefit from the policy and limited production capacity, downstream of the property market, coal steel cement prices continued to rise. The rising price of vegetables, pork price fell, crude oil prices fell. Currency: the central bank to restart the 14 day reverse repo, the higher the cost of short-term funds, Treasury interest rate shocks. The central bank 24-26 through three JCP 14 days reverse repo funds invested 180 billion yuan, invested by adjusting the capital structure, while maintaining the long-term liquidity on the basis of decreasing the cost of short-term funds, short-term liquidity is tight. August 26th 1 days, the inter-bank repo rate of 7 days were 2.0706%, respectively, up from last week, respectively, an increase of 2.17 BP and 8.45 BP (). 10 years after the first rise in bond yields fell to 2.6927%. Yi Gang said that the 14 day reverse repurchase operations to the market more options, the 7 day reverse repurchase will continue to maintain. This week, the central parity of RMB against the U.S. dollar and the U.S. dollar against the spot exchange rate of RMB devaluation of 0.42% and depreciation of the devaluation of the RMB, the offshore RMB devaluation of 0.57%, respectively, the value of the RMB devaluation of RMB 0.28%. Policy: the State Council to reduce the cost of enterprises, tax reform program has been submitted. Politburo meeting examined and approved the healthy China 2030 program outline. The State Council issued the "plan to reduce the cost of enterprises in the real economy", requiring lower taxes and fees, financing costs, institutional transaction costs, labor costs, energy costs, logistics costs. China.相关的主题文章: