The IMF trims its economic growth forecast again as the U.S.-China trade war continues, Brexit worries linger and inflation remains muted.Economyread more
Citigroup thinks Tesla investors hoping for a post-earnings rally later this week should scrutinize a pair of related financial metrics.Investingread more
Olive branches were extended from both China and the U.S. as the two nations are set to restart face-to-face trade negotiations after a monthlong truce.Marketsread more
Coca-Cola topped Wall Street's expectations for earnings and revenue.Food & Beverageread more
New disclosures show Facebook and Amazon each spent more than $4 million on lobbying activity in the second quarter of 2019.Technologyread more
Boris Johnson, one of the biggest voices in the Brexit movement, wins the Conservative Party leadership race by a 2-1 margin.Europe Politicsread more
Disney can nearly double its earnings by 2024, Morgan Stanley said in a note to clients on Tuesday.Investingread more
Amazon is expected to report its second-quarter earnings on Thursday.Investingread more
The largest residential brokerage company in the U.S. is partnering with the largest online retailer in a strategy to boost sales for both.Real Estateread more
Here are the biggest calls on Wall Street on TuesdayInvestingread more
Canaccord Genuity's Tony Dwyer believes stocks are about to fall as much as 5% from their all-time highs.Trading Nationread more
China, the biggest buyer of U.S. sovereign bonds, could be slowing down or even halting its purchases, according to a report.
Bloomberg News reported Wednesday, citing people familiar with the matter, that officials in Beijing have recommended the Chinese government lower — or even stop — its buying of U.S. sovereign debt.
The report also notes that Chinese officials think U.S. debt is becoming less attractive compared with other assets, adding that trade tensions between the two countries could provide a reason to slow down or halt the purchases.
"If China stops buying Treasuries, the market could suffer," strategists at Jefferies said. "Treasury financing needs are going to rise significantly in 2018 and beyond relative to recent history, so Treasury is going to be looking for as many sources of demand as they can find. "
The news worried markets.
Treasury prices fell, boosting yields. The dollar also dropped against most currencies and gold rose. U.S. equities declined.
"I think the Chinese will contribute to the removal of liquidity from the U.S. bond market," said Michael Shaoul, chairman and CEO of Marketfield Asset Management. "That's not helpful to a bond market that's already under pressure."
A taper in Chinese purchases would come as the Federal Reserve unwinds the massive balance sheet it amassed after the financial crisis. The Fed is also expected to raise rates three times this year. In 2017, the central bank also hiked rates three times.
The U.S. 10-year yield rose to 2.56 percent on Wednesday, hitting levels not seen since last March. The dollar also fell against a basket of major currencies, trading down 0.2 percent at 92.28.