The Chinese central bank has halted government bond purchases to address downward pressure on the yuan caused by plummeting bond yields, signaling concerns about financial risks. This move comes amid slower economic growth and a wider gap between Chinese and U.S. bond yields, impacting capital outflows and exchange rates. By combining various measures, including bond suspensions and issuing bills, the PBOC aims to stabilize the yuan and manage bond yields effectively.
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Canada intends to recognize Palestinian state at UN General Assembly: Carney
Canada, led by Prime Minister Mark Carney, plans to recognize a Palestinian state at the UN General Assembly in September 2025, a move Israel condemned as part of a "distorted campaign." The recognition aims to uphold the two-state solution, contingent on reforms by the Palestinian Authority and a commitment to demilitarization, as hopes for peace diminish amid ongoing conflicts and territorial issues. Want More Context? 🔎
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