China cuts some rate, and so? https://www.zerohedge.com/markets/china-panics-cuts-multiple-rates-and-reserve-ratio-requirements-goes-all-prop-stocks * The PBOC will reduce the 7-day reverse repo rate by 20bps. * The PBOC will cut the reserve requirement ratio by 0.5%, a move that will free up1 trillion yuan ($142 billion) in liquidity, Pan said. * China may also cut the RRR further this year by another 0.25 to 0.5% at the appropriate time. * The PBOC will cut the 1 Year MLF rate by 30bps * The PBOC will also lower the rates for existing mortgages and cut the down payment ratio on second homes to 15% from 25%. * The deposit rate will be lowered to "neutralize" the impact on bank margins. BIG moves in the markets Is this a move from foreign buyers back into the Chinese markets? USD is pretty low, SPX looks pretty high Found a fix for the livestreaming issue: monitor the output! OBS didn’t work, or at least I couldn’t get it to work so FK THT. No gym this morning because… out of money! Would rather wait until pay day or until those stonks move higher. DID go for a bike ride (no Chinese) and then lunch time job + push ups, then 100 mace swings. Donate to the show! PayPal link below! https://www.paypal.me/stevensirski?locale.x=en_CA *** Show notes n tracks up on stevensirski.com And on Notion: https://stevensirski.notion.site/SSAB-The-Audio-Blog-of-Steven-Sirski-00acfe344e164bfab191d3cddf6952b2?pvs=4 Newsletter over at stevensirski.substack.com Have a good Tuesday! 00:00 Introduction and Market Overview 00:41 China's Financial Maneuvers 04:06 Job Market and Pandemic Impact 17:08 Live Streaming Troubles 22:02 Gym and Daily Routine 28:07 Language Learning and Future Plans 29:40 Conclusion and Sign-Off
