Market sentiment got a temporary boost as PBOC lower the benchmark interest rates by -25 bps and the RRR by -50 bps for city commercial banks and non-county level rural commercial banks. Wall Street opened higher but all gains were erased later in the day on disappointing dataflow. DJIA ended the day -1.29% lower while S&P 500 was down -1.35%.
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Sentiment Improved Temporarily as PBOC Announced Easing Measures
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