China central bank resumes easing cycle to cushion reform pain China’s central bank resumed its easing cycle, injecting an estimated $100 billion worth of long-term cash into the economy to cushion the pain from job layoffs and bankruptcies in industries plagued by overcapacity.
A drop in healthcare and energy shares offsetting a rebound in utilities stocks pushed indexes lower. Diminished expectations of U.S. interest rate hikes this year after the weaker-than-expected housing data lifted Treasury prices, which also boosted the prices of gold. A lack of coordinated plan of action from G20 increased the safe-haven allure of the yen. Oil rose after China moved to boost its slowing economy.