Fed boosts bonds, Delta blues stall stocks

  • Powell says tapering ‘still a ways off’European shares sag after late roll over in U.S. stocks PBOC rolls over 100 bln yuan of maturing 400 bln MLF
  • China data points to slowing recovery

LONDON, July 15 (Reuters) – Europe’s share markets spluttered and government bond yields burrowed lower on Thursday after the head of the Federal Reserve dampened taper talk and traders struggled with the rapid global rise in COVID-19 Delta variant cases.

There was a giant helping of Chinese data, including a slightly below consensus second quarter GDP reading, to digest too as well as plenty more earnings numbers to come. read more

China’s data was hardly dismal – average growth actually surpassed Q1 while June retail sales and industrial output beat expectations. But it did show authorities, who only last week squirted one trillion yuan into the financial system, will ensure conditions stay loose.

But markets’ delight after Jerome Powell told Congress he saw no need to…

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