May 29, Thursday

High-Level Voices: 
The Federal Reserve meeting minutes released early this morning show that policymakers generally believe economic uncertainty is higher than before..

Overall Sentiment: 
After yesterday's close, markets saw unusual activity, with the U.S. dollar surging and gold dropping. The main trigger was Japan's Ministry of Finance intervening in the Japanese bond market, leading to two consecutive days of declines in Japanese long-term bonds, dragging U.S.Treasury yields below the 4.5% mark. The key focus now is today's 40-year Japanese government bond auction—if the results are poor, it could spark a new wave of selling. The Bank of Japan's intervention seems a bit late this time. 
The A-share market was lackluster yesterday, with auto stocks continuing to fall as market players traded blame, each accusing the other of being the "Evergrande of the auto industry."