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China’s bans lenders from selling commodity futures-linked products to retail investors

  
  Analysis

An ICYMI from China’s Banking and Insurance Regulatory Commission’s (CBIRC’s) efforts to stop lenders selling investment products linked to commodities futures to retail buyers

Info came via Reuters who cited three people with knowledge of the matter.
  • also instructed lenders to completely unwind their existing books for these products
  • “The risk contained in banks’ commodity-linked investments cannot be easily spotted by ordinary investors, neither can they bear it,” one of the sources said. “Banks also don’t have enough expertise to run such products properly.”
On this
  • “Banks also don’t have enough expertise to run such products properly.”
Probably applies to many banks running their own books on such (and other) products right around the world, not only in China.
Link to Reuters for more if you are interested.
This continues the theme of Chinese regulators tightening up rules and enforcement of commodity markets in light of the high prices and volatility seen recently.
An ICYMI from China's Banking and Insurance Regulatory Commission's (CBIRC's) efforts to stop lenders selling investment products linked to commodities futures to retail buyers

Major indices close higher. Dow lags (but close higher). Russell 2000 leads the way higher

  
Analysis, US Market

Nvidia releases earnings after the close

the major US indices are ending the session with mixed results. The Dow 30 is closing lower. The Russell 2000 index up small-cap stocks is closing up around 2%.

  • The Dow and S&P are on track for a monthly gain
  • the NASDAQ remains on track for a down month. First decline since October
  • Best-performing sector was energy
  • Russell 2000 closed higher for the fourth time in five days
  • Dow closes 2% from the all-time high
  • S&P closes less than 1% from the all-time high
  • Dow is up for the fourth time in five sessions
A look at the final numbers shows:
  • S&P index rose 7.94 points or 0.19% at 4196.06
  • NASDAQ index rose 80.83 points or 0.59% at 13738.00
  • Dow industrial average rose 10.13 points or +0.03% at 34322.79
  • Russell 2000 up at 47.52 points or 1.97% at 2249.27
In Europe today, the major indices closed mostly lower but little changed.
Below is a summary of the changes, highs and lows from May point and percentage perspective for North American and major European stock indices.
Nvidia releases earnings after the close_
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