Tag Archives: sounding

Wall Street’s Dr. Doom is sounding downright sunny as he predicts a ‘short and shallow’ recession or even no recession at all instead of the epic collapse he saw in 2022 – Fortune

  1. Wall Street’s Dr. Doom is sounding downright sunny as he predicts a ‘short and shallow’ recession or even no recession at all instead of the epic collapse he saw in 2022 Fortune
  2. ‘Dr. Doom’ Nouriel Roubini Would Short US Stocks As 10% Drop Is Likely Markets Insider
  3. Nouriel Roubini on Markets, Fed, UAW Strike, Currencies, US Dollar (full interview Bloomberg Television
  4. Nouriel Roubini says a return to 2% inflation is ‘mission impossible’ MarketWatch
  5. ‘Dr. Doom’ Roubini says 10% fall in the S&P 500 ‘highly possible’ By Investing.com Investing.com
  6. View Full Coverage on Google News

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NASA launches sounding rockets to look for habitable planets

NASA will launch two sounding rockets from northern Australia during the first half of this month in order to help astronomers understand how starlight influences a planet’s atmosphere, the space agency reported this week.

The rockets will follow another two rockets that have already been launched as part of an exploration to understand how starlight influences a planet’s ability to support life.

The rocket launches will focus on two sun-like stars near our sun, Alpha Centauri A and B, because of their ultraviolet light which is essential for life in very specific amounts. Too much ultraviolet light can erode the atmosphere, NASA explained.

“Ultraviolet radiation from the Sun played a role in how Mars lost its atmosphere and how Venus turned into a dry, barren landscape,” said University of Colorado astronomer Brian Fleming.

“We need to understand the stars so that we can understand any planets we find there,” said fellow CU astronomer Kevin France.

NASA and SpaceX launch the first operational commercial crew mission (credit: REUTERS)

DEUCE and SISTINE missions

In order to help scientists better understand how starlight works in their mission to find other habitable planets, the two rocket missions, DEUCE (Dual-channel Extreme Ultraviolet Continuum Spectrograph) and SISTINE (Suborbital Imaging Spectrograph for Transition region Irradiance from Nearby Exoplanet host stars), will take measurements of the ultraviolet light emitted by Alpha Centauri A and B. 

The measurements will then be compared to the Sun, which is the only star in the galaxy for which astronomers have full ultraviolet measurements.

“Looking at Alpha Centauri will help us check if other stars like the Sun have the same radiation environment or if there are a range of environments,” France said.

“We have to go to Australia to study it because we can’t easily see these stars from the northern hemisphere to measure them.”

Astronomer Kevin France

“We’re excited to be able to launch important science missions from the Southern Hemisphere and see targets that we can’t from the United States,” said NASA’s Heliophysics Division director Nicky Fox.

A third mission was launched this week with the goal of studying X-rays emanating from the clouds of gases and particles in interstellar space.

NASA explained that while the space between stars in the night sky seems dark to the human eye, X-ray sky images show that there is actually a lot of activity there.



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Ukraine crisis: US warns ‘drumbeats of war’ are sounding as talks with Russia end with no breakthrough

Both US and Russian officials sounded a pessimistic note over the talks following Thursday’s meeting in Vienna at the Organization for Security and Cooperation in Europe (OSCE). It was the third session that capped a week of intensive meetings that the United States and its NATO allies hoped could spur Russia to pursue a path of “de-escalation and diplomacy” rather than mobilizing the tens of thousands of Russian troops whose presence has swelled along Ukraine’s borders.

But Russian officials reacted with frustration and impatience coming out of the meetings, suggesting they were poised to abandon discussions over the US and NATO’s refusal to entertain Moscow’s key demands: A guarantee that Ukraine will never be permitted to join NATO and that the alliance roll back its expansion in Eastern Europe. The US and its NATO allies have repeatedly said such proposals from Moscow are non-starters.

Russian Deputy Foreign Minister Sergey Ryabkov suggested the talks had reached “a dead-end or a difference in approaches” because the US and NATO would not address Moscow’s demands about Ukraine never joining NATO, he said, according to Russian state media TASS. Ryabkov said he didn’t see a reason for the two sides to continue talks, even though the US has suggested they would continue beyond this week.

Following Thursday’s session, the US Ambassador to the OSCE Michael Carpenter told reporters that the “drumbeat of war is sounding loud and the rhetoric has gotten rather shrill”

“We have to take this very seriously,” Carpenter said of the massing of Russian troops along the border with Ukraine. “We have to prepare for the eventuality that there could be an escalation.”

Polish Foreign Minister Zbigniew Rau, the OSCE chairman, warned after Thursday’s meeting that the “risk of war in the OSCE area is now greater than ever before in the last 30 years.”

The diplomatic efforts this week — which included separate sessions between Russia and the US, NATO and the OSCE — were aimed at pulling back Russia from a potential invasion of Ukraine. But Russia did not commit to pulling back the more than 100,000 troops now along the border, and the Russian military conducted live-fire exercises along the border this week as the talks were ongoing.

‘The jury’s out on which path Vladimir Putin is going to choose’

US officials made clear heading into the talks they did not know whether Russia was serious about diplomacy or just planned to use the sessions as a pretext for military action.

“The jury’s out on which path Vladimir Putin is going to choose,” Secretary of State Antony Blinken said Thursday in an interview with MSNBC. “Is he going to choose the path of diplomacy and dialogue to resolve some of these problems or is he going to pursue confrontation and aggression?”

National Security adviser Jake Sullivan told reporters at the White House Thursday that the US and its allies remain prepared for any outcome following this week’s talks.

“The discussions were frank and direct. They were useful. They gave us and our allies things to consider; they gave Russia things to consider,” Sullivan said. “We will now reflect and consult with allies and partners on how to proceed,” Sullivan told reporters at the White House.

Sullivan said that the Biden administration planned to share information soon about Russian disinformation operations that could lay the groundwork for a pretext to invade Ukraine. “Our intelligence community has developed information, which has now been downgraded, that Russia is laying the groundwork to have the option of fabricating the pretext for an invasion,” Sullivan said.

A senior US official said that in the last several days Russia has “continued to add capacity” near the border. The official said that it wasn’t a “substantial” number of troops or equipment, but it’s a signal that Kremlin is not de-escalating.

Russia’s next move still unclear

It’s still unclear what the US plans to do if Russia doesn’t de-escalate but also doesn’t invade Ukraine. Throughout the week, US officials have said Russia will face consequences like they have never seen if an invasion happens. But the Biden administration is not planning to impose any costs on Russia as a deterrent.

A senior State Department official said there is nothing that would change that approach.

“I don’t think there’s any desire to impose sanctions or consequences in advance of Russian action on the ground. I don’t think that would be a productive way to go,” the official told CNN. “I think we maintain leverage if we reserve the right to impose those consequences in the aftermath of an escalation.”

The head of the US delegation, Deputy Secretary of State Wendy Sherman, told reporters after the talks at NATO that the Russians themselves may not know yet what their next move is. Throughout this week’s talks, the US has repeatedly argued that diplomacy can’t happen unless Russia de-escalates, which Sherman on Monday said the US defined as Russia returning its troops to barracks or telling the US “that exercises are ongoing and what their purpose is.”

After Wednesday’s meeting at NATO, Sherman said Russia had not committed to any de-escalation.

Top Biden administration officials have made clear that they expect talk to continue in the near future, without providing details for what those talks might look like.

“We would expect to have additional engagement with the Russian Federation in the coming days. We hope that engagement takes place, we hope this diplomatic track continues, but even more importantly, we hope it bears fruit,” State Department Spokesperson Ned Price said on Wednesday.

Russia says US demands are ‘unacceptable’

Russia’s Foreign Minister Sergei Lavrov responded Thursday that the US demands were “unacceptable.”

“I do not think we need to explain how absolutely unacceptable such demands are, and, of course, we will not even discuss them,” Lavrov said.

US officials have expressed hope that discussions over areas of mutual interest between Russia and the US — including nuclear weapons, intermediate range missiles and transparency over military exercises — could keep the diplomatic conversations going. NATO leaders noted that Wednesday was the first time Russia had agreed to a meeting with the alliance in two years and they sat through the four hour-long meeting, which was longer than had been scheduled.

“I think the reality is that I will say that the Russian delegation sat through nearly four hours of a meeting where 30 nations spoke, and they did, which is not an easy thing to do,” she said Wednesday.

But if that gave the impression Russia might have been open to compromise positions, Russia quickly poured cold water on it.

“The US and its NATO allies are not ready to meet Russia halfway on the key issues,” Ryabkov said Thursday, according to state news agency TASS. “The main problem is that the United States and its NATO allies, under no guise, for any reason are not ready to meet our key demands.”

Blinken had warned before the talks that no breakthroughs were expected this week “in an atmosphere of escalation with a gun to Ukraine’s head.”

As Russia and NATO appeared to talk past each other, the language they used illustrated how far apart they remain. Russia had proposed specific treaty language in the weeks ahead of the meetings and called them “negotiations,” while Sherman countered that no formal terms were put forward in what she described as “discussions.”

Sherman said earlier in the week that she did not know if the Russians had come to the table for the three days of talks in good faith, or as a pretext in an attempt to justify future military action.

“If Russia walks away, however, it will be quite apparent they were never serious about pursuing diplomacy at all,” she said. “That is why collectively we are preparing for every eventuality.”

CNN’s Anna Chernova, Zahra Ullah, Mick Krever, Barbara Starr and Sam Fossum contributed to this report.

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States are sounding the alarm on Covid-19 outbreaks among school-age children

Everyone 12 years and older is eligible for a Covid-19 vaccine but vaccination among children ages 12 to 17 is lower than in older groups, according to the US Centers for Disease Control and Prevention.

The US isn’t alone. Covid-19 infections among children and adolescents in the Americas — including the US and Canada — have reached over 1.9 million, Dr. Carissa Etienne, director of the Pan American Health Organization, said on Wednesday.

There were more than 1.5 million Covid-19 cases among children and adolescents reported in the Americas all of last year.

In the US, some state officials are sounding the alarm:

About 60% of outbreaks in Georgia are in schools

In the last 60 days, about 60% of all Covid-19 in Georgia happened in K-12 schools — about a sevenfold increase, state epidemiologist Dr. Cherie Drenzek said during a Department of Public Health board meeting Tuesday.

“The most significant epidemiologic trend that we have seen, that was much different than previous waves of this pandemic, is the tremendous impact that we have seen on school-aged children,” she said.

That impact crosses all surveillance indicators, including new cases, hospitalizations and deaths, according to Drenzek.

Georgia is currently averaging nearly 7,000 new cases each day — roughly a tenfold increase from July, according to data from Johns Hopkins University.

Georgia ranks near the bottom in the US in vaccination rates, with 43% fully vaccinated, according to the CDC.

Ohio governor’s appeal to school districts

Ohio Gov. Mike DeWine and the Ohio Children’s Hospital Association this week urged school superintendents to require masks for staff and students.

“If we want our schools to stay open, the best way to do that is for those 12 and over to get vaccinated,” he said during a virtual meeting with superintendents. “But because those under 12 are still too young to be vaccinated, we need students who come into school to wear a mask until we get through this.”

Just over 54% of the state’s public school students are under a mask requirement.

“Reasonable people may disagree about a lot, but we can all agree that we must keep our children in the classroom so they don’t fall behind and so their parents can go to work and not take time off to watch their kids at home,” DeWine said.

Since August 15, there have been 29,823 children — ages 5 to 17 — with confirmed or probable cases of Covid-19 in the state, according to a statement from the governor’s office.

In the past week, Ohio saw a 44% increase in cases among school-aged children, compared to a 17% jump in the rest of the population.

The statement said school districts where masks are optional have seen a 54% week-over-week increase in cases, compared to a 34% spike in districts with mask requirements.

“This is a perfect storm, and it’s impacting kids like it hasn’t before,” Nick Lashutka, president and CEO of the Ohio Children’s Hospital Association said in the statement.

10 times as many cases in Pennsylvania school children this year

Pennsylvania has 10 times as many Covid-19 cases in school-aged children as it did at this time last year — when the state was doing remote learning, according to Alison Beam, the acting health secretary.

Between September 4 and September 10 last year, there were 574 Covid-19 cases in children aged 5 to 18 in Pennsylvania, according to the Department of Health.

During the same time period in 2021, there were 5,371 cases in the same age group.

Status of a vaccine for children

Vaccines for children between the ages of 5 and 11 could get the green light from the US Food and Drug Administration sometime this fall, Dr. Anthony Fauci said Tuesday.

“If you look at the studies that we at the (National Institutes of Health) are doing in collaboration with the pharmaceutical companies, there will be enough data to apply for an emergency use authorization both by Pfizer, a little bit later by Moderna,” Fauci told CNN.

“I believe both of them — with Pfizer first — will very likely be able to have a situation where we’ll be able to vaccinate children,” he added. “If the FDA judges the data sufficient enough, we could do it by the fall.”

School re-openings without proper masking have likely contributed to the increase in cases among children, according to Fauci.

“When you get a highly transmissible virus that’s going around the community, you’re going to see a lot more children get infected,” he said.

But mask mandates in schools remain controversial.

In New York, two Long Island public school districts are suing the governor and state health commissioner over a statewide school mask mandate imposed ahead of the school year.

On Wednesday, data from Johns Hopkins University showed that 1 in 500 Americans has died from the coronavirus since the nation’s first reported infection.

CNN’s Madeline Holcombe, Holly Yan, Christina Maxouris and Jen Christensen contributed to this report.

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COVID hospitalizations are rising faster in Oregon than ever before. No one is sounding the alarm

The number of Oregonians hospitalized with COVID-19 has skyrocketed over the past month, rising faster than in previous waves and almost entirely among the unvaccinated.

Hospital leaders say COVID-positive patients requiring hospitalization are younger on average than ever before. With a quicker onset of symptoms, patients are more ill when admitted to hospitals and rapidly declining in health compared to previous surges.

On Friday, the number of people hospitalized with COVID-19 reached 496, including a record 135 in intensive care. At the current trajectory, Oregon is on pace to exceed its all-time high of 584 COVID-positive patients as soon as next week.

But hospital leaders and Gov. Kate Brown have not sounded the alarm, as they did during earlier waves. Brown warned in June 2020 – when 108 people were hospitalized with COVID-19 – that hospitals “could be overwhelmed” within weeks based on modeling. Brown renewed restrictions in November – when 285 people were hospitalized – saying that hospitals could withstand a surge but “that needs to be a last resort.” And in April – with 328 people hospitalized – Brown again restored some restraints because rising hospitalizations were “threatening to overwhelm doctors and nurses.”

The reasons such dire warnings and capacity concerns haven’t returned this summer appear three-fold: With vaccines readily available and known to dramatically reduce the need for hospitalization, healthcare providers have shifted their focus to pushing for more people to be vaccinated; the current hospital surge has largely spared the Portland area — where hospitals have developed ways to better manage hospital capacity — giving the state an extra buffer for more sick patients; the governor handed off COVID-19 safeguards to individual counties, where local leaders are reluctant to institute them for communities feeling worn-out after being given the green light just weeks ago.

“Three or four weeks down the line, there’s a concern here, but that’s also the point, which if somebody went out today and got vaccinated, they’re not going to be sick,” said Erik Robinson, a spokesperson for Oregon Health & Science University. “We need people vaccinated.”

Oregon’s governor has largely taken a hands-off approach to the current wave, deferring to county officials to implement restrictions to slow spread since she lifted statewide restrictions June 30. So far, no county has acted, although some hospital systems have voluntarily postponed non-emergency procedures to manage capacity.

Brown is “incredibly concerned about the increase in COVID-19 hospitalizations,” spokesperson Charles Boyle said in an email earlier this week.

“Local leaders asked for local control and therefore we expect local leaders in areas most impacted by COVID-19 to take action,” Boyle added. “All options remain on the table if hospitalizations continue to rise.”

The summer spike has left healthcare providers scratching their heads about vaccine hesitancy or resistance, but they have few options aside from continuing to push shots as the single most effective way to prevent hospitalization or death from COVID-19. Some 70% of eligible Oregonians are at least partially vaccinated, leaving more than 1 million people without shots.

“We are doing all we can … to promote vaccination for the community,” said Dr. Katie Sharff, an infectious disease doctor at Kaiser Permanente. “But if you don’t have any mitigation measures in place, you will continue to see community transmission, we will continue to see people get sick, we will continue to see people hospitalized. And so that just feeds into this problem of capacity.”

Meanwhile, the pool of unvaccinated people in the state tends to be younger, and the delta variant is more contagious and shows more severe effects, said Gary Walker, a spokesperson for Providence Health & Services.

“The difference is they’re younger, sicker, quicker,” Walker said of the people now being hospitalized.

Prior to the Fourth of July holiday Providence Portland Medical Center for a few days had zero patients in intensive care with COVID-19, said Sabra Bederka, an ICU nurse at the hospital. Encouraged by the decline in patients, Bederka and other medical staff she spoke with believed state plans to officially reopen were “a terrible idea,” she said, even though Oregon was among the last states nationally to do so. “And clearly we were right, unfortunately.”

“‘It’s OK to not take precautions,’ is basically what we heard from government,” she said. “‘Mask if you want to, mask if you haven’t gotten vaccinated.’ People aren’t going to pay attention to that. They have to be basically forced to do the right thing, and that’s heartbreaking. And they get mad when they’re told to do the right thing because it’s their right to not do the right thing.”

When Bederka was last at work a few days ago, she said, none of the COVID-positive patients in the ICU were vaccinated. “This is a surge of the unvaccinated,” she said.

“There is no 100% guarantee of anything, but wear a mask, get the vaccine, you have a very, very, very, very high chance of not getting sick at all,” she said. “Or if you, heaven forbid, do get sick, it’s very, very mild.”

As of Friday, the summer surge had officially pushed hospitalizations of COVID-positive patients in metro region past the spring peak, but they remain at just over half of what they were at the height of the fall.

Portland and its surrounding counties also have a considerably smaller share of COVID-positive hospitalizations than in the fall — previously claiming around half of the statewide total but now just over a third.

Meanwhile, the summer spike has been particularly acute in southern Oregon. The hospital region that covers Jackson and Josephine counties had a record 100 patients with COVID-19 as of Friday.

The Asante health system recorded about 80% of those patients across its three hospitals in Medford, Ashland and Grants Pass. “We have been operating at capacity for many weeks,” said spokesperson Lauren Van Sickle.

She added that 90% of Asante’s COVID-positive patients are not vaccinated.

Hospitals in the Portland region are often taking in the most seriously ill COVID-positive patients from across Oregon. The region on Friday recorded 47 people in intensive care, already above the spring peak, and 18 people short of the fall high.

As the state’s only academic medical center, OHSU is taking in the most critically ill and complex cases, said Dr. David Zonies, OHSU associate chief medical officer for critical care. Providence has also taken COVID-positive patients from southern Oregon, Washington, Idaho, California and Montana who were flown by helicopter to Portland, Bederka said.

As of Friday, Oregon reported that hospitals in the Portland region were operating at 95% capacity, with 89 available non-ICU beds. Capacity for intensive care stood at 87%, with 44 available beds.

The summer surge has increased anxiety among health care workers battered by 17 months of the pandemic. Hospitals nationwide continue to face staff shortages, with many leaving the profession during the pandemic.

“I don’t think anyone was truly anticipating a summer surge,” Zonies said. “We were all really focused on what happens when we go back indoors in the fall.”

Zonies said the most frustrating part of the hospitalization surge is that it was avoidable, had more people been vaccinated. He said the hospital is now seeing critically ill patients ages 20 to 40 who are unvaccinated, although state data show only about three dozen Oregonians in those age groups have died during the entire pandemic out of nearly 2,900 total deaths.

“The narrative that it doesn’t affect the young doesn’t jibe any longer, and that’s what makes it so scary,” he said.

“It’s not a scare tactic. It is just a stark, cold reality,” he added. “People need to just really understand that that’s where it is. We need to encourage, we need to be firm, and we need people to engage with their community and keep us all safe.”

— Ardeshir Tabrizian; atabrizian@oregonian.com; 503-221-8067; @ardytabrizian

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Kanye West Donda LIVE – New album release date pushed again after rapper debuts different sounding version at livestream

‘NO SOUND’

Kanye West left fans furious when he “live-streamed his new album” without sound on Wednesday — before the release date.

The rapper has confirmed the album release for August 6th, 2021, though he has a notorious history of delaying his own schedule.

Kanye, 44, filmed a live video debuted via Apple Music from the dressing room at the Mercedes-Benz Stadium in Atlanta, Georgia.

The father of four has been reportedly living in the space for the past two weeks, and he recorded himself doing push-ups, hugging friends, wearing a ski mask, and singing.

However, fans were taken aback at the beginning of the stream when they realized there was no sound coming from the video.



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Denver ER doctor sounding alarm over delta variant, recommends indoor masking

DENVER — An emergency room doctor based in Denver is sounding the alarm as the COVID-19 delta variant spreads across Colorado.

“I think maybe it’s time to start thinking about putting our masks back on, especially indoors where we know that the ventilation is not necessarily all that good,” Dr. Comilla Sasson said Sunday.

As of the latest CDPHE data from the last week of June, the delta variant made up nearly 90% of the specimens randomly tested.

“I think the data is changing, and I think that’s hard for folks,” Dr. Sasson said.

This week, Los Angeles County began requiring masks indoors again, even for vaccinated people, due to rising cases and hospitalizations.

The health district serving Las Vegas now also recommends both vaccinated and unvaccinated people wear masks indoors.

“When a new mutation comes out that’s more transmissible, we have to change our approach to keep everyone safe, and I think that’s hard for people to sometimes stomach,” Dr. Sasson said.

Vaccinated people are included in these requirements or recommendations, she says, because they, too, can get infected, even if the symptoms are mild, and unknowingly spread the virus.

“What we’re learning now and as we’re starting to see all over the U.S. is that we’re having these breakthrough cases, which is basically people who’ve been vaccinated who have now gotten COVID-19,” Dr. Sasson said. “You’ve got vaccinated people who maybe have mild symptoms starting to realize they have COVID, but they can still transmit COVID to other people.”

While there are no public plans for any new requirements or recommendations in the Denver metro, some are feeling unsure about the weeks ahead.

“I feel like if people are getting vaccinated, then why should we have to wear a mask? It kind of defeats the purpose,” Marissa, who lives in Westminster and wears a mask during work, said.

“I mean, if we have to do it for a little while longer, like until the fall or something like that, then I think it’s doable,” Michael Sugar, visiting from Chicago, added.

The delta variant is not yet the variant of concern in the Denver metro, according to CPDHE, but Dr. Sisson warns your best bet against it is getting vaccinated if you haven’t done so already.

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China is sounding the alarm about a global market bubble

Guo Shuqing, the Communist Party boss at the People’s Bank of China, told reporters in Beijing on Tuesday that confidence in Chinese markets could be hit by volatility around the world.

“We are really afraid the bubble for foreign financial assets will burst someday,” said Guo, who is also chairman of China’s Banking and Insurance Regulatory Commission

Guo’s warning follows concerns expressed elsewhere that bubble-like behavior is spreading through financial markets. Wall Street banks have been fielding questions from clients about whether the runaway equity boom will be followed by a crash resembling the bursting of the dot-com bubble burst 21 years ago.

Guo echoed such fears, adding that the rallies in US and European markets don’t reflect the underlying economic challenges facing both regions as they try to recover from the brutal pandemic recession.

“Such [a] bubble bust could trigger substantial foreign capital inflow to China,” wrote analysts at Mizuho Bank in a research note, adding that the regulator said he would study “effective measures” to encourage the free flow of capital while avoiding shocks to financial markets. A huge rush of funds into China could destabilize the world’s second biggest economy by rapidly inflating its currency, assets and prices.

The Chinese banking leader also said he’s worried about whether China’s property sector is at risk of volatility too — an issue that analysts say implies that the country may be ready to tighten its purse strings. President Xi Jinping told an economic conference late last year that the country needs to stabilize the property market in 2021, and Beijing has already taken some measures to do that. In December, regulators issued rules intended to limit lending to the property sector.

Local governments in China, meanwhile, have stepped up measures since the start of this year to cool the market down, including by restricting purchases and reining in developers.

Markets shaken

Guo’s remarks shook markets in the region. The Shanghai Composite (SHCOM) and Hong Kong’s Hang Seng Index (HSI) were both trending upward before Guo’s speech, building on Wall Street’s rally Monday. But both indexes reversed course soon after. Shanghai’s benchmark was down 1.2%, while the Hang Seng fell 1.3%.
Other indexes in the region also fell: Australia’s S&P/ASX 200 slumped 0.4%, while Japan’s Nikkei 225 (N225) dropped 0.9%. South Korea’s Kospi (KOSPI) was the outlier, trading up 1% after markets there were closed Monday for a holiday.

“This indicates how sensitive markets are to policy accommodation being taken away,” wrote Stephen Innes, Chief Global Markets Strategist at Axi, in a Tuesday note. “It also highlights that central banks will run at different speeds in pulling away from last year’s crisis.”

Guo’s comments also reflect concerns from Beijing about the risk that rising debt poses to the economy. Property loans accounted for nearly 30% of total loans issued in yuan by the end of 2020, according to central bank data.

And some in China have already been suggesting that it’s time for the country to taper fiscal and monetary support — including former finance minister Lou Jinwei, who in December said that a “gradual exit” from loose policy will help stabilize and eventually reduce China’s debt ratio.

China spent hundreds of billions of dollars last year in a bid to shore up the country’s economy after the pandemic hit. Its efforts to spur activity — including through major infrastructure projects and by offering cash handouts to stimulate spending among citizens — appeared to pay off, as the economy grew 2.3% last year.
Now the country is looking to keep that momentum going while measuring how much monetary support will actually be needed. It’s also balancing the recovery with a plan to ensure that some 40% of its population receives Covid-19 vaccines by the end of June — a number that amounts to more than half a billion people.

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